Fixer uppers: How to find that foreclosure ‘diamond in the rough’

Look for the shabbiest house on the nicest block in town. Spruce it up. Sell for profit.

That’s a real estate investing recipe for success more often than not, especially if you can discern between money pits and money makers. When it comes to flipping foreclosures, or even purchasing a discounted distressed property as a primary residence, it’s critical to spot the “diamond in the rough” before someone else beats you to it.

Distressed properties are often in less than tip-top shape, but it’s that shabby exterior that is concealing the massive opportunity for riches for those investors who know how to take advantage of great deals when they see them.

Spotting a diamond in the rough isn’t difficult, but it does take the right knowledge and an open mind. You need to be able to see past the unsightly condition of a home that has turned off other investors to determine if it is really worth your while.

The September 2011 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which shows you how to find and capitalize on those diamond-in-the-rough properties that are just waiting for an investor like you

Learn how to hone your detective skills to uncover these amazing deals before your competition does. The potential financial rewards will be well worth your time.

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

Real estate apps and technology for homebuyers and investors

Technology is a beautiful thing. It can also be stressful and confusing, if you’re a little late to the game and unsure of where to start.

Apps, smart phones, iPads and other innovations are all the rage these days. Real estate agents, sellers, buyers and investors are all taking advantage of the latest technology to expedite the marketing and sales of homes at seemingly every turn.

But with the competitive market flooded with so many products, services and short cuts, it can actually hamper your home search rather than make it smoother … and cheaper.

The August 2011 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which teaches you which technological gadgets are worth the effort of getting to know and how to put them to work so you can save time and make money faster.

We’re also very excited to tell you about a 100 percent free opportunity to learn all about integrating technology into your investment strategies quickly and easily. It’s a crash course in the essential technological tools that, when used correctly, promise to make a real difference in your bottom line.

Learn about the most innovative and intuitive technological tools that will make finding, purchasing and profiting from distressed properties easier than ever before.

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

Free property title search

When it comes to distressed real estate, a clean title absolutely essential.

Title searches become especially critical for short sale and foreclosure transactions because liens on a property transfer with property ownership. That means that you could be stuck with an outrageous bill even though the previous owner caused the lien to occur in the first place if you’re not careful.

Indeed, any encumbrances incurred by the previous owner could become the next owner’s problem. And if that next owner is you, you may be in for a very unwelcome shock.

The July 2011 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which familiarizes you with title searches and how to get them done, for free if you’re so inclined (and diligent), as painlessly as possible.

Your success as an investor depends on it.

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

Flipping foreclosed homes: Risks vs rewards at public auction

Foreclosure sales and auctions are all the rage these days. Distressed real estate deals are so plentiful that even the cash-laden investors are having a difficult time keeping pace.

Those who do, typically do quite well. And they will likely be doing even better as their discounted purchases appreciate over time.

However, it’s not as easy as most “do it yourself” home renovations on television today would lead you to believe.

On the contrary, you need to do your homework to ensure that you don’t lose your shirt — and thousands of dollars — investing in a foreclosure lemon. The flipside to that coin is that you can also be pleasantly surprised with what you find in your “as-is” real estate money machine.

So what can go wrong, and what can work in your favor, at a public foreclosure auction? The Orange-County Register runs through a few “Risk vs. Reward” scenarios in an article today.

Check them out:

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Secrets to buying foreclosed homes at auction (Video)