From: "Jeff Strickland" 
Newsgroups: alt.building.realestate alt.org.natl-assn-mortgage-brokers alt.realestate.fsob tw.infotimes.banking
Subject: Re: HELP with Foreclosure
Date: Mon, 11 Aug 2003 10:05:26 -0700

As a licensed real estate salesman in my state, I get lists from the title
companies of trustee sales and delequencies. This is the same information
that can be gathered from the courthouse steps and public records. The title
company sends me a new list every week.

Yes, there are many "diamonds in the rough" that can be found, but for the
most part the properties are way to rough to ever be a diamond. I think that
it will take significant amounts of cash to bring most forclosures up to a
livable standard, and after pouring the cash into the property, one could
have bought a nicer property for the same amount of money and spent his
weekends enjoying cold beers on the patio instead of busting ass fixing
stuff.

That said, there are many guys out there that buy these kinds of properties,
and pour some sweat into them, and take the sweat back in 6 months as a
wheelbarrel full of cash.



"Canzie"  wrote in message
news:sZ5Za.2181$Z37.2028@nwrdny03.gnilink.net...
> By the time there is a "listing" or "publication" of forclosed houses, by
> the time the bank owns the property, you are already months past the
> opportunity to get a good deal.  The ONLY way to buy forclosed propertites
> is to save your money, do not buy anyones tape, book, or seminar on the
> subject, and visit your local courthouse & do your own research.
>
> In my humble opinion
>
> -- 
> Michael Papp
> iNet Lending / Carteret Mortgage
> www.iNet-Lender.com
>
>
> "J Strickland"  wrote in message
> news:vj5fc9qolvsg87@corp.supernews.com...
> > Yes, there is. Your agent should be talking to the title company for a
> > listing of foreclosed properties. I have looked at the listing, and I
> can't
> > find any reason to buy a foreclosure. You would think there would be a
> > pricing advantage, but it seems that homes in foreclosure need more than
> the
> > discount -- that is, you might save $15,000, but it will take $14,000 to
> > make the property livable, giving you a net savings of $1000. Hardly
worth
> > the effort, if you ask me.
> >
> > Good luck.
> >
> >
> >
> >
> > "Troy Robertson"  wrote in message
> > news:vj5abg4ncbrf0f@corp.supernews.com...
> > > Is there a of foreclosed homes that I could buy directly from the bank
> or
> > > have my real estate agent purchase in my behalf??????
> > >
> > > any help would be greatly appreciated.
> > >
> > >
> > > Troy
> > >
> > >
> >
> >
>
>