First Time Investor Question (Buy & Hold)

[Shawnette Ashburne]

Hi, I'm a new REI and new to this forum (well, I've never submitted a post and don't know yet how to find answers to questions already posted).

I'm ready to buy my 1st rental property and have identified a foreclosure that I would like to buy. What should happen first, secure financing or put an offer on the house? 

[Patrice Penda]

Hey @Shawnette Ashburne

Foreclosures are very risky and I would not recommend buying a property at foreclosure auctions.
it is a minefield. There could be title issues, evictions problems,  and other things you need to consider and be aware of.
But having said that, maybe you know what you are doing, in which case, go for it.

In terms of financing, you need to secure financing first.