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Part 2

House Hunting with an Eye for Flipping

IN THIS PART …

Find and cultivate your farm area — a great neighborhood with plenty of good opportunities for flipping houses.

Discover dontwanners in your farm area — properties that are neglected because the owners don’t want them and are probably eager to sell.

Read foreclosure notices and notices of default (NODs) to find properties that you may be able to pick up at bargain prices.

Pick your point of entry in the foreclosure process: pre-foreclosure, foreclosure auction, or post-foreclosure (properties the banks repossess).

Avoid the most common and costly mistake novices make at foreclosure auctions. (This tip alone may save you more than $100,000!)

Capitalize on bargains in special markets, including divorce, bankruptcy, and probate.