real estate agents won't recommend you do anything that they can't make a commission on.
If the property on on "a list" ( MLS, foreclosure, auction, etc) then it probably won't be such a good deal because everyone and their brother knows about it and there will be way too much competition which will drive the price up.
In my area, out of town buyers ( who don't know better) are paying 80% of market value for foreclosure properties that need work which will eat up the rest of the equity. Auctions and especially foreclosure auctions have way too much competition and have high rollers with a lot of cash to out bid you.
the absolute best deals are NOT listed with an agent, NOT on a list or web site, and do NOT have a for sale sign in the front yard.
The best deals will be on the offers you make directly to the owner yourself with no agent or middle person involved.
You'll find that short sales are a lot of work for only a 50% success rate and a very low profit margin. Not my idea of fun!
If the property on on "a list" ( MLS, foreclosure, auction, etc) then it probably won't be such a good deal because everyone and their brother knows about it and there will be way too much competition which will drive the price up.
In my area, out of town buyers ( who don't know better) are paying 80% of market value for foreclosure properties that need work which will eat up the rest of the equity. Auctions and especially foreclosure auctions have way too much competition and have high rollers with a lot of cash to out bid you.
the absolute best deals are NOT listed with an agent, NOT on a list or web site, and do NOT have a for sale sign in the front yard.
The best deals will be on the offers you make directly to the owner yourself with no agent or middle person involved.
You'll find that short sales are a lot of work for only a 50% success rate and a very low profit margin. Not my idea of fun!
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