Who Buys Foreclosed Properties?
Not long ago, investing in foreclosures was something only the rich and powerful could afford. The entire process was shrouded in secrecy and only those with the right connections could participate. Even finding out which properties were going through foreclosure was virtually impossible for the average person. But nowadays people from all walks of life are able to invest in foreclosed properties. Much has been written about the foreclosure process so you are now free to learn the ins and outs. And anyone with an internet connection can locate foreclosure opportunities for a small fee. A snapshot of today’s foreclosure investors would include: • Wealthy investors looking to make easy cash by flipping foreclosure properties or by holding onto them and renting them out. • Smaller investors looking to do the same on a smaller scale. This class of investor is usually made up of a group of friends or neighbors who purchase a foreclosed property, renovate it themselves, and then resell it fo
