foreclosure

[Aquila Oliveira]

i looking into gettting into some deals and i had a quick question.

When buying into a foreclosure, do the banks take into account the rehab needed and already deduct it from the price or do they just want to cut their losses for what the loan was worth it?

thanks in advance

[Jeff Cooley]

accurate rehab analysis is going to be your primary concern, get help if you are the least bit unsure of costs. You can always get foreclosures cheap, but they can eat up lots of cash to get them ready. Why buy a 20000 dollar foreclosure and put 40000 in rehab (60000 total) when you can buy the another house on the block that is already done  for 60000.... just isn't worth the effort to rehab. If other houses around it are selling for 100000.... now you have real value. Best of luck