Forclosures or MLS ?

[Andrew B.]

Hello All -

I am new to the game and just have a couple questions that I'm hoping someone (or multiple people) could help me out with. I am looking to buy a fix in flip property and want to know the best way to go about this. Since this will be my first property I don't mind giving up some additional profit for added security - for this reason I have chosen to use conventional financing and ensure that I am afforded all the "luxuries" that a general home contingency can bring.

I have been searching the MLS for the past couple months and have seen a couple solid deals, but have been a little to slow to pull the trigger. Now that I've been pre-approved I want to make sure I can jump on the next property that fits my criteria. This leads me to my question.. What is the best way to purchase a foreclosed home that allows for conventional financing? I keep hearing about "Foreclosure Specialists" real estate agents, but I want to make sure this is a legitimated way to go about purchasing a home before going down that road.

Does anybody have any insight as to where I can find foreclosed homes for sale that allow for conventional financing and how that process differs from purchasing a standard home off the MLS?

Also, if anybody could share any uncommon tips to better leverage the MLS that would be great as well.

CAVEATS - (1) I am not using the true MLS, and I know I need to talk to a real estate agent to ensure I am getting the best results. (2) I am planning on doing a live in flip so I am not as worried about the carrying costs associated with house flipping (although I am definitely leveraging them within my calculations).

I appreciate all the help, Thanks!