Should we consider properties that are priced way below comps, but aren't foreclosures or short sales?

[Nicole Pettis]

Hello!

Quick question here....my husband and I are currently looking for an investment property to live in to start are REI business. While our main focus is foreclosures and or short sales, I have been coming across a few properties that are priced well below comps in the area that are neither.

The reason being they need major updating/renovation. My guess is they have distressed owners that are just ready to get rid of the property and don't want to put any money into it.

Is it wise to look into these if the numbers work?

Thank you for your advice!

[Larry Roberts]

If the numbers work and you don't want to buy the property you should at least look at wholesaling it to a buyer that would want to fix and flip or keep.