(FORECLOSURES) The SECRET to Finding Them

Foreclosures, fixer-uppers, sheriff sales, tax liens, and as-is properties are more prevalent than ever as the economy shits. This means great investment opportunities for those who know where to find them.

Wayne shares with you in this episode a simple way to see the over 1 Million distressed properties in the United States and the mistakes people so often make when investing in real estate.

The good news is they’re all on one website.

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*DISCLAIMER* The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with a financial advisor or lawyer. I may earn commission from purchases made through links in this post.

[stephenmartin]

$2700 a month total ! People are nuts . It will be foreclosed again 😅

[jonmayberry]

I've bought two foreclosures over the years great deals

[CameronFussner]

People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

[laura]

Great advice. I did not know about tax, sheriff, pre- foreclosure . Thank you for giving the advice on HOA and reminder to do your due diligence. Does the survey come with the appraisal ? Or is that something that needs to be done separately?

[melodyn]

My friend's house mortgage bank sent her a foreclosure letter a few months ago, but there is no auction date. Why? How she could find out auction date?

[smallspaceprepping]

WOW! I was not aware about Forclosure homes. Right now our Association Fees are over $700/a month.

[MadAudi]

My property taxes went up. It increased my mortgage by nearly $200.00! I’m afraid what’ll happen next year… Is there anything at all I can do?

Update: I reached out to the county and reviewed my property card. All is accurate. My home market value is getting higher… and so is the tax on that. It also has something to do with the commissioners budget… which will be submitted for approval this month. My home appraised value won’t be reviewed for another 4 years.

This is my 3rd home purchase and I’m still learning. Just very glad I went with the 30year fixed interest rate mortgage and don’t have to worry that I’ll be priced out of my neighborhood for taxes and interest.

Also wish I was a multi-millionaire!

[rachelturner]

That’s an insanely good price for those condos!

[verderriscursey]

What's strange about foreclosure is the payments dont start where the previous owner left off. The banks sold the home all over again....lol

[ironmule]

Ever heard of someone not signing a purchase agreement and deciding they don't want to buy a property and then being told by sellers agent you owe them for title work and closing costs they had started before agreement was signed?

[CaLi_Rose]

The foreclosure website you mentioned isn't working?

[matthewronsson]

What is the timeframe for a survey to be considered acceptable, before it's advisable to get one's own survey? What are the variables for determining this?

[ronniecegarner]

How much money should you save to buy a home?

[valentina-bonilla]

Hi Mr. Wayne I have been having issues buying a foreclosure property even that I am a Realtor in Florida I am missing something or the secret to succeed. I would like to know if you offer one on one training in foreclosure please

[marshab]

I wish you would help me find a good deal in the Houston area.

[Colette-xh]

Cash flow dude! Excuse me
Wayne 🧡
You do need to know your comps!

[bstancel]

You can get some fantastic deals buying foreclosures. With that said you had: better know the true values in that area, plan on spending at least 20% more than you expected on any updates or getting it ready for sale and never pay more than 60 cents on the dollar. The foreclosure that you showed in this video is definitely not what the standard foreclosure looks like. Also, what you mentioned about a due diligence period for foreclosures is not remotely true in most states. It is true for REO properties, but not for true foreclosure properties. True foreclosures at the auction are as-is and you had better have some cash readily available. Speaking from someone that has bought and sold foreclosures.

[decordeverhendricks]

Wayne I've tried several times to contact you with no success!?!

[shelly]

Hi Wayne I’m still waiting on a phone call from you

[Highwind]

New Orleans. The insurance has to be very expensive and probably need flood insurance too. This property is way over valued