How to buy at foreclosures

[Kiran Alisam]

Hi

Iam getting started in Real estate investing and curious to find out on foreclosure properties as i have seen in forums for BRRRR Strategy

Please provide me any inputs on whats the work needed to bid on foreclosure properties and process to do 

Regards

Kiran

[James Mc Ree]

I recommend not starting your real estate investing education buying foreclosed properties or it may be a very expensive education.  Bidding is easy.  Paying for what you didn't realize you bought - maybe not so easy.

Consider buying the BiggerPockets books for low/no money down investing, flipping, estimating rehab costs and rental property investing.  Investing a lot of your time here reading real life questions and answers.  You didn't mention your real estate background.  I am assuming "getting started" means just that.

My recommendation is to look for a more traditional purchase with or without a mortgage of a property that needs some work.  The BiggerPockets books and posting content will give you some great education on what to do with that property, but there is nothing like looking at a sagging upstairs ceiling and wondering, "Why is that?  Is it expensive?"  (Broken roof joist, $300 repair).

Good luck!