How do I start looking for foreclosures?

[Walter Correia]

I’m not sure where to start looking for foreclosures. Do I call banks in my area? Auction.com? This is my first time and of course I want to do it smart. How did you find your first? Or how would you advise a rookie?

[Darius Kellar]

@Walter Correia

I do not recommend using auction.com to buy your first house. However if you do use auction.com make sure you know all of the bidding process. Iv'e seen in situations where people were over bidding on property because of the banks auto bid on auction.com. Plus in some situations you don't even get to go in and view the properties condition before the auction starts. 

I recommend first time home buyers should go on Homepath.com and HUD so that you can thoroughly inspect the properties before you put your offer in.

I have been lucky. I have bought 3 properties without going inside them before I even purchased them.  All 3 have doubled and 1 more than tripled in value.