Updated almost 11 years ago on . Most recent reply
Buying foreclosures on the courthouse steps
I have been a professional Realtor for 7 years and a real estate investor for 10 years, and I just recently discovered the secret to buying properties on the courthouse steps. You have to join a team. You can't do it on your own. Some of the team members track the foreclosures, others provide the hard money to purchase, others refinance you out of the hard money, you need contractors to fix up the property and a Realtor to sell it for you.
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I agree buying on the steps is like swimming with sharks. You must have a team in place and do your research. I've seen beginners get eaten alive using cash on the steps here in the SF Bay Area. Personally I don't do it, but I have met some great real estate connections and done deals with people I've met there.
If you show up on a regular basis you might find a good mentor and learn something.