I have a question about foreclosures. In Minnesota when a property is sold at an auction does the ownership go directly to investor at that point or is there still the redemption period? I'm just starting out with foreclosures and they are kind of hard to understand. I have heard foreclousre in minnesota are not worth the time when it comes to flipping. Any help would be great
There is always redemption period after the Sheriff's sale where the taxpayer has an opportunity to work on keeping the property. In most instances this period lasts 6 months. I personally do not pursue these properties. In most instances there isn't any equity for the old owner to do anything.
Thank you for the feedback. If you don't mind me asking how do you find the majority of your properties? I do mailers, fb ads, and door knock because I'm an agent and throw that into my pitch.
Will message you.
Great. Thank you