How to Find and Buy a Foreclosed Home

Are you looking to buy a foreclosure?

Foreclosed properties can be one of the best ways to get a cheap property, but understanding this murky world can be difficult. In this video from BiggerPockets, Brandon Turner (author of "The Book on Rental Property Investing") shares the three different things people mean when they say "Foreclosure" and also offers four tips for finding great foreclosure deals!

[villiam]

I bought a foreclosure and lived in it while I fixed it up. It's now worth double what I paid for it (a little of that is due to the current market) I'm getting ready to sell it, downsize and still have a profit to invest. I still work a 9to5 but I want to do real estate full-time one day. I'm not saying all this to brag or anything. Just wanted to put it out there for people who could benefit from the idea.

[pastorjohndas]

"Just because it's a foreclosure, doesn't mean it's a good deal." I love the straight forward and truthful approach they have.

[TheRenegade]

Wow, you’re giving out information people go to seminars for, for free. Thank you very much sir

[Jackie_theRealtor]

I have a new buyer and I’m a Real Estate agent. My buyer just asked about a foreclosure and I told him the truth I do not know anything about a foreclosure. I went on YouTube and found this and this have been so helpful! Thanks Brandon! I still need help but I think I will search the address and look into the MLS!

[jasonadkins]

My second rental was a foreclosure. It was on the mls. It was easy for me to find it (it’s right next door). Being able to chose your neighbors is one of the greatest feelings ever.

[clear_gray_sky]

After you buy the foreclosure and they record the deed . Take a copy to every government agency you can think of . Especially the tax collectors office and make sure they now have your mailing address . If not all your important government paperwork like property tax bill will go to the bank that used to own it and that bank will not send it to you !

[johndeanconway]

Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment.

[vollickplaysgames]

5:00 till he gets to the point sort of

[gameragedad]

Video is solid gold. Wish I could like this video 100 times. Thank you for sharing valuable information and making the process clear. Many youtuber's just share bits and pieces and like to listen to the sound of their own voice without getting to the point. I feel like I actually learned a lot watching this video.

[itsJoshW]

2:55 -- Actually, fun fact: You can. There may be a minimum bid, though; The minimum for my father who bid on a lot next to my house was $50.

[laloluna]

After all this time it took a down-to-earth guy like yourself to explain it all in very good detail. Thank you for this insight

[lauriemomof]

This happened to the property that my mom was renting. The landlord went into foreclosure. The new owner was an investment company. They contacted her and asked if she would like to remain in the property as a tenant. She ended up working out a deal and stayed in her rental. Granted her rent went up a tad bit. She was very thankful that they were willing to work worth her and not kick her out just because of change of ownership.

[PhuccinAyee]

Bought my house in 2011 for 23k from the bank. It's now appraised at 95k
In the process of getting a Heloc to purchase foreclosures right now.
You can do it too 👍👍
Take the necessary risks. Reap the rewards. Were only on this 🌎 a short amount of time. Work smarter not harder. Live your life to the fullest.

[jennnewton]

I appreciate the discount code given at timestamp 7:20 and the analysis calculator at 8:48

[gargola]

I swear in all the youtube channels this guy is the only one that give you the truth and how to actually do shiets

[malayaanderson]

I’m really trying to learn more about this & look into possibly buying a home in foreclosure one day. Honestly with the price for just the basic houses, I think it’ll be the only way I can afford to buy.

[joeneuman]

2:58 Great video. The starting bid is not always what the owner owed on the property. Most of the time the opening bid that is just determined mostly randomly by the lien holder. The lien holder will have a proxy bid amount that is unknown to everyone except for the person conducting the auction, usually the trustee, who will then outbid any bids lower than that proxibid by just a few dollars. Very similar to eBay.

[TheTruthSeeker]

My good friend recently bought a forclosed home for $170k and it was appraised at $275k. It still needed repairs but just goes to show it's still possible to get good deals.

[blackstoneinvestmentsllc]

Great video, I have bought several foreclosures. Realtors are of little help finding them, chances are they are looking too. Be vigilant and check the reality sites daily, run your comps quick and go after it especially in this housing market. Good deals in our area don't stay more than a day or two before getting a contract on them. Be wise and be smart, DON'T OVERSPEND. Have fun.

[Qwertyx]

my friend bought a foreclosure in the bay area for 400k. that is a very good deal because houses in the bay area are all 2 million dollars.