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Updated about 10 years ago on . Most recent reply

Account Closed
  • San Antonio, TX
7
Votes |
40
Posts

Forclosure in a good location? What now?

Account Closed
  • San Antonio, TX
Posted

there is a foreclosure asking for 89k with 2100 sqft with some some cosmetic touch ups needed to be done

On the same street there is a house asking for 174k with 2065 sqft

And there is one more that just sold for 75k and is estimated to go for 165 when all said and done with 1756 sqft

Would it be wise to look into the forclosure? Is it possible to wholesale with the foreclosure? What would be the best route to go when money is not the first option to go with?

Thanks 

Most Popular Reply

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Brandon L.
  • Real Estate Agent
  • Falls Church
1,747
Votes |
2,396
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Brandon L.
  • Real Estate Agent
  • Falls Church
Replied

@Account Closed I always ask myself these questions:

Am I ready to purchase today?

Does the property meet my criteria, and investment goals?

Do I have an exit strategy? 

If you cant answer all these questions with a YES then walk away for now. Building a solid foundation is important before the purchase of a property. There will always be other properties on the market. 

Don't look at building the roof, if you have not finished the foundation. 

Hope this helps

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