foreclosure investment particularly for a quick buy and sell.
How does everyone on here feel about a foreclosure livable with 60% off retail price. Soldiers where i live default on loans like crazy! Constant good deals going on.
Would there be any downfalls To say buy a foreclosed property at a discounted rate then turn around and sell it for a profit. This one home where i live was being sold at 50k. Comps for the property put the value at 120k. Granted i didnt have my llc or s-corp at the time so i couldnt do much. Everything in the place was re-done by the owner. Really bummed out! it was a rare find for a heck of a profit!
Does anyone else use this strategy? If not, then why?
Thanks!