Investing in Foreclosures

[Christian Morrison]

Hey everyone! 

So I'm a first time investor, looking to start as soon as possible, I want to do something to get moving but don't have a lot of money to do so, so for the time being I've just been educating myself on real estate and finance in general. I haven't been able to find a lot of information on foreclosure investing unfortunately. I found some really low prices on foreclosures here in California with what seems like potential. Naturally, the voice in the back of my head tells me these deals are too good to be true. So what's the catch with low cost foreclosures?

Also, as a side note, can anyone provide me with some details on how you go about financing or getting a mortgage on a foreclosure that strictly says cash on site (as most seem to).

Thanks in advance!