Investing in Foreclosure Properties

My husband and I have been investing in various real estate properties for the past 12 years and have loved doing it. We have bought some that we fixed up and flipped, and others we bought and rent out to various tenants.

One thing we are doing right now is looking into Real Estate Owned Foreclosures and perhaps investing in one or two of them. Have any of you ever searched for foreclosed properties? Have you ever bought a foreclosed property?

Even though we have a lot of experience in purchasing homes…we have never looked at foreclosed properties before. I was doing some online research and found a few web sites that list foreclosed properties for free and we found several in our area that look pretty nice.

One thing we learned about these properties is that most are not run-down or in bad areas of town. Matter of fact, we found several nice ones and a couple of them wouldn’t need any work done to them at all. Personally though, we don’t want to do anymore fixer-uppers any more and just want to invest in them as rental properties.

So my question today is…if you have ever looked at foreclosed properties before and have any stories, suggestions or tips to share with us, we would love to hear all about them. Thanks!