Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 54

IN THIS CHAPTER

Buying directly from homeowners in pre-auction

Chasing foreclosure notices: pros and cons

Scoping out properties at foreclosure auctions

Tracking down bank- and government-owned properties

Foreclosure investing encompasses much more than simply buying properties for pennies on the dollar at a foreclosure auction. The foreclosure process often takes three months to a year to run its course, and investors can step in at any time to scoop up a property. In fact, investors can even step in before official foreclosure proceedings begin and (in some areas) months after they wrap up.

Although you can buy properties at numerous stages in the foreclosure process, I recommend that you become a specialist in one area first. Focus on pre-auction properties, auctions, or post-auctions so you can become an expert in one area. You can branch out later, as you become more experienced, develop better connections, and strengthen your investment team and your financial position.

In this chapter, I reveal the various entry points in the foreclosure process, covering everything from pre-auction to post-redemption, also known as Real Estate Owned (REO) opportunities. I point out the pros and cons of investing at each stage so that you can make a well-informed decision about where you’d like to begin your journey in foreclosure investing.