Hello, my name is Sarah and for the past year I've changed my career path from an accountant to a business owner in the food/restaurant/service industry. With life's unpredictability I am now venturing into the buy-and-hold strategy I was planning on for my future THIS MONTH! I am not an agent and only have basic/common knowledge of the industry.

I am currently looking to purchase a 3+ bed/2+ bath within the next 4-8 weeks max!

I am worried about how much auctions and foreclosures actually cost vs. knowing the price of a home put on the market by an agent. I am also concerned with the many expensive repairs that come with owning a home and would like to be completely secure with the home I purchase and it's reliability.

Due to my limited knowledge I am currently at a stand still with my future and have the following questions:

- Auctions vs. Foreclosures vs. Fixer Uppers:

1) How do I go about researching and bidding for Auction homes? (I have a lot in the area which I would prefer to invest in over other homes but I don't know the in's and out's of the auction process and what to expect.)

2) Do I stay away from foreclosures? How much does the bank end up selling them for compared to what the previous loan owed was?

3) Fixer Uppers: Will an inspection of the property and the home be enough knowledge to prepare for the repairs needed?

I will be active in the responses as I am intending to learn and take advice to quickly get this process rolling since I need a place to live.

Thank you all for your time and I look forward to the responses!

3 Votes

8 Replies

Jump to Last Reply

Hello Fast & New Investor from Central, FL (Deland)

Most Popular Reply