Finding foreclosure bargains will get easier as the sub-prime mortgage and adjustable rate mortgages shake out. I interviewed financial advisor Karl Johnson recently and he spoke about saving cash for the next 3 - 4 years to find bargains in real estate. Then I saw this article today about foreclosure bargains. It's a good blueprint for your consideration.
By the way, Johnson said more people are financing with fixed mortgages so there will be fewer foreclosures after the next 3 - 4 years.
Investing in Foreclosures
Remember, when looking to invest in real estate in an area where you don't live, take into consideration the strength of the local economy and local tax laws. That's what a friend of mine did when he invested in a 3-bedroom home in Cypress, Texas near Houston.
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