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Updated over 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Florida
29
Votes |
54
Posts

Best way to buy foreclosures?

Account Closed
  • Rental Property Investor
  • Florida
Posted

Im looking to purchase a live in flip once my apartment lease expires and I have been exploring foreclosures as a way to do so. I am not totally educated on this part of investing and I am looking for some advice. What is the best way to go about buying a foreclosure? Is there a good place to begin looking? What are some tips and tricks you all have when it comes to dealing with such properties? Ill be looking primarily in the Fort Walton Beach and Destin area, with Destin being my area of choice! Thank you!!

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Ehsan Rishat
  • Specialist
  • Carlsbad, CA
637
Votes |
1,028
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Ehsan Rishat
  • Specialist
  • Carlsbad, CA
Replied

@Account Closed if you're a beginner then I would advise not to go with foreclosed properties since you need to buy as-is and no inspection is allowed. There might be major damages in the property and without past experience dealing with foreclosures, you might end up losing money.

If you're confident then look for off-market properties. Do not waste your valuable time on MLS as it's full of intense competition. You can try purchasing a pre-foreclosure list from listsource and start marketing to it. You can send a direct mail to that list which I do or you can start cold calling. 
If you have any question or need any help with the list, feel free to send me a DM.

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