Banner
  • Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Q&A: Investing in foreclosed properties

Article

I live in an area with a lot of foreclosed homes. It seems like a good investment to buy some of these homes and turn them around for profit once the housing market takes off again. How do I get started?

Q: I live in an area with a lot of foreclosed homes. It seems like a good investment to buy some of these properties and turn them around for profit once the housing market takes off again. How do I get started?

A: Foreclosed homes can be a bargain, and even more so if you're able to repair the homes yourself, rather than paying someone to fix plumbing, lay down new carpet, and the like. Of course, investing in foreclosed homes brings along plenty of risk because no one knows when housing prices will stabilize. Additionally, sellers of foreclosed homes aren't required to provide the same disclosures as traditional sellers, so you'll know much less about the house you're buying. If you think it's worth the risk, though, a good place to start is foreclosure property listings. These listings are public record and can be found in real estate magazines, newspapers, and online at sites such as http://www.foreclosurelistings.com and http://www.realtytrac.com. Also, check with lenders' REO (real-estate owned) officers, who are in charge of the company's foreclosed properties. In general, when you're interested in foreclosed properties, banks and lenders are your safest bet.

Related Videos