State Specific Information: Florida is probably one of the most famous tax lien states because the interest rate of 18% per year is favorable and if the property goes to foreclosure, the redemption period of 2 years is short.

Most real auction type sites like the online foreclosure sites, auction.com, homesearch.com etc... all allow end buyers to participate.Hubzu.com is set up like an auction site but in reality it is not right?

I would really like to team up with a realtor or team who can help with foreclosures and auctions in Dallas and Atlanta.

From what I understand you find a seller going into foreclosure and you write up a contract to buy the property at a discount with the existing financing still in place.

Like most of us who had poor early guidance, I experimented with high LTV 2nds to borrowers in foreclosure.

In the event of foreclosure and ultimate sale, it's pretty easy to do so long as your loan was fully covered, what do you do for any loss, who collects first?

In wake county, they have a 3 ring binder filled with all REPORT OF FORECLOSURE SALE/RESALE forms from the trustees and NOTICE OF UPSET BID forms from "the competition".

When I first started working with my realtor, he informed me that the foreclosures in the area, are simply within the listing on their company website, but they aren't labeled as such.

Jordan,There are single,double,and triple net leases.The ability to re-purpose the building fast and cheaply is key.Certain corporate tenants with the building design if they go out you have massive costs to get it to a rentable state for another tenant type.Case in point I know a Sonic building that has sat as a foreclosure for a year.To re-purpose it you would have to take out the drive thru stalls and the building itself is so small you can't do much with it.One key area I didn't see touched on is that YES with a TRUE triple net you do not pay for anything.With other single or doubles you might get a little more but pay for expenses so it's almost a wash in the end.The lease is guaranteed and you get mailbox money.The down side is these tenants have rents stay the same amount for long periods of time before any increases and when it does increase the rate is marginal.So when inflation kicks in year after year the returns are diminishing.If you are trying to protect your money they can be an excellent investment.Tell us more about your situation which will help.I like corner locations or right next to the corner as they hold value and are easier to re-purpose and re-rent.Even though the rent doesn't increase as much the land should be way more valuable in time unless the area dies off and growth migrates elsewhere.You can also assume loans at sometimes 90 ltv putting down just 10%.The reason is lenders see these loans as having little risk and low chance of default.I specialize in multi-family and also triple net so contact me with any questions you have.

The foreclosure wave that has hit the nation has left plenty of opportunity to purchase steeply discounted property everywhere I've looked.