My first foreclosure deal went wrong
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The 6 Phases of Foreclosure
The 6 Phases of Foreclosure
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investopedia.com
Foreclosures can be a great deal, but patience is key. Banks usually won't budge on price until a property has been listed for six months. After that, negotiations open up! Most of my personal homes have been foreclosures, and I've fixed them up from rough conditions. The home I live in now wasn't even livable when I bought it, two types of roofs, mold in the master ceiling, rotten subfloor, mouse shit everywhere and so much more. It needed everything. Who else has taken on a foreclosure remodel
1:06
Foreclosures can be a great deal, but patience is key. Banks usually won't budge on price until a property has been listed for six months. After that, negotiations open up! Most of my personal homes have been foreclosures, and I've fixed them up from rough conditions. The home I live in now wasn't even livable when I bought it, two types of roofs, mold in the master ceiling, rotten subfloor, mouse shit everywhere and so much more. It needed everything. Who else has taken on a foreclosure remodel
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This foreclosure looks cheap… until you price it correctly. Most investors lose money on foreclosures because they ignore the real numbers: repairs, holding costs, permits, utilities, and resale risk. If you don’t run the full breakdown before you bid, the “deal” becomes a trap. Price it right—or don’t buy it at all. 👇 Save this before your next foreclosure deal. #foreclosure #realestateinvesting #fixandflip #realestatedeals #houseflipping
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