Updated over 8 years ago on . Most recent reply
Looking to Buy My First Foreclosure
Hello Everyone,
I'm located in Tuscaloosa, AL. Real estate has always interested me and I'm looking to buy a foreclose located really close to the house I grew up in. I would be looking to fix it up a little bit and then flip it. The current listing price is 130k. I wanted to know if most investors are able to negotiate any with the bank. I do not think there is an auction on it. I'll be meeting a buyers agent tomorrow to look at the property, so I would like any advice on questions to ask tomorrow. I would be looking to put 30k in the property and try to sell it around 200k. I would potential make 40k on it. I would like to know if those margins are to tight. Any advice would be greatly appreciated.
Thanks for reading.
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I am located in the Birmingham area and have been looking to get my feet wet in the real estate investment business as well.