Had a recent conversation with an investor that likes that he can get small 3 and 4 unit properties on foreclosure actions. But he wants someone else to deal with the management. Prices are softer for regular listings and you can get a good deal there too.
Keep it in mind that you are in the home provider business from the moment you close escrow. If it is a foreclosure you have little to back up the security deposits and the tenants may be a big pain in the back side. What did they contract for? What deposit are they claiming?
In a regular sale there is an "Estoppel" to review the amounts and services that the tenants think is theirs. This is an important document. Both foreclosures or market properties will make you money. With soft prices on listed properties it is worth it to have an agent on your side. I can help save on headaches and make it a smoother business to run after the purchase.
Let a professional like me help you buy an investment property that does not have a snake den full of problems.
Sincerely Keith Lambert
310-391-0821
www.Lambertinc.com
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