Are foreclosures at 100k a good option if I have 60k? First Buyer

[Nathan Asher Robson]

I just bought a few books to learn how to invest in single and duplex homes, turnkey etc. I’m an Australian, and I want to invest my 60k towards the end of this year after I feel more competent in my knowledge.

But looking on Roofstock, Zillow, Redfin etc, I’m seeing what looks like nice places (physically) for roughly 100k. I don’t understand the numbers yet on if they are good investment.

But I’m just thinking that if I could get as close as I can to owning them outright, I could make roughly 1k per month in rental income..

I saw one place - it was physically stunning for 80k in New Kensington PA that was foreclosed.

Am I missing something here..? Is there something that I’m not reading correctly?

Why wouldn’t someone just snap these up?

It’s really making me want to rush into something that I have no clue about..