Discover three effective ways to profit from foreclosures. Article includes tips and caveats.
The idea one can profit from foreclosures is more than buying a property at an auction and then reselling that property for a profit. In this article, we will consider three ways you can profit from foreclosures.
1) Bid at the foreclosure sale
2) Buy an REO from the lender
3) Negotiate a sale with the distressed property owners
The Foreclosure Process
Here are two examples of Foreclosure listings:
Central Ohio Foreclosure Source - Daily Reporter Newspaper. This site is where I get the most recent foreclosure listings, check your newspaper or call the city to find your list of foreclosures.
Here is what a listing looks like when it is pulled up on the daily reporter
New Filing (8/16/2006)
Foreclosure Actions
06CVE08-10610 — Deutsche Bank National Trust Co. vs. Person in Foreclosure 2222 Gleneagles Ct. Dublin OH 43017 Person in Foreclosure 2222 Gleneagles Ct. Dublin OH 43017 and unknown tenants, if any, of 2569 Punderson Dr.; foreclosure of mortgage 193,161.91. Judge Bessey.
Manley, Deas & Kochalski, LLC by Lisa K. Pomeroy
8888 Punder Dr.
Hilliard, OH 43026