Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
BPCON2026 Orlando

October 2 - 4 Early Bird tickets are now ON SALE. Purchase your tickets today and save $100!

Get tickets
BPCON2026 Orlando

October 2 - 4 Early Bird tickets are now ON SALE. Purchase your tickets today and save $100!

Get tickets
Followed Discussions Followed Categories Followed People Followed Locations
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
General Real Estate Investing
BiggerPockets Exclusive PRO Area
PRO
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Commercial Real Estate Investing
Mobile Home Park Investing
Innovative Strategies
Multi-Family and Apartment Investing
Land & New Construction
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions presented by
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Personal Finance
Creative Real Estate Financing presented by
Private Lending & Conventional Mortgage Advice
Insurance
Tax, SDIRAs & Cost Segregation presented by
Foreclosures
1031 Exchanges presented by
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing

Updated about 2 years ago on . Most recent reply

Scott Garrels's profile image
Scott Garrels's profile image
Scott Garrels
  • Rental Property Investor
  • from Cedar Rapids, IA
  • Member since Aug 13, 2019

User Stats

38
Posts
7
Votes
Scott Garrels's profile image
Scott Garrels's profile image
Scott Garrels
  • Rental Property Investor
  • from Cedar Rapids, IA
  • Member since Aug 13, 2019
Scott Garrels
  • Rental Property Investor
  • Cedar Rapids, IA
7
Votes |
38
Posts
Classifieds

Foreclosure Property - tips and pitfalls

Scott Garrels
  • Rental Property Investor
  • Cedar Rapids, IA
Posted

Looking at a potential opportunity on a foreclosure property that would be either of personal residence or a house hack after a year or two.  Located in Iowa.

I have never purchased a foreclosed home before. What are the pitfalls to look out for and are there any tips, particularly with financing the purchase, anyone can share?

Thanks in advance

  • Scott Garrels
    • 0 Votes
    Follow
    8 Replies
    Jump to Last Reply
    Log In or Sign Up to Reply
    Sort By:

    Loading replies...