Should I invest in foreclosures?

2 Replies

Hey!

I wanted to get some input on foreclosures. How should I analyze a foreclosure, how long could take to start rehabbing one in order to sell it? and overall, what are the key elements I need to consider when investing in one to flip?

Thank you!

@Arturo Borges

I've never flipped one buy I bought a few to hold. The time frame will depend on the how far in the foreclosure process the property is. I was waiting for one to close for 9 month and recently I got one within 2 months. So make sure when buying one you can have your financing on hold for some time. The selling agent should be able to get you some timeframe.  The rehub time should not be any different from any other property. It depends on the condition of one.