Foreclosure / Sheriff Sale-Is that a note as well?
Hey everyone,
I have been in the real estate game for awhile but mainly only do rentals. As time goes by the idea of notes seems like a nice niche to look into. The whole idea of getting started in notes is a bit confusing though. Anyway I was wondering if buying a foreclosure at the court house steps was the same as buying a note. From what I read , your are buying a note from the bank but it is also in foreclosure and you have to wait for the redemption period then the note turns into a deed to the property. Is that correct? I assume though that the whole idea of note buying it the cash flow so most note investors buy notes with the hopes of never foreclosing. Thoughts?