Foreclosures are one of the best ways to find a rental property in Dallas. Dallas foreclosures are at a all time low, and you can catch a great deal on a pre-foreclosure, bank owned foreclosure, and many more.
Another great way to find a house is FSBO (For Sale By Owner) - People that are trying to sell their houses are having to settle for pennies on the dollar especially if they are in financial distress. Also look for people putting a house up for sell because of Divorce or Death.
Guys, you can purchase a Dallas Forclosure and rent it for 2 years and avoid capital gains tax, and then flip it once the Dallas Mortgage Market is in better shape.
Thursday, April 10, 2008
Saturday, April 5, 2008
Dallas Foreclosures :: Finding a great buy on a forclosure in Dallas
Right now you can get great deals on Foreclosures in Dallas due to the current foreclosure market. If you are looking to invest in a rental property and want to purchase a Dallas Foreclosure then you need to be sure to do your homework. Foreclosures are a great investment and your can purchase a foreclosure in Dallas for 50 cents on the dollar, but you need to make sure that the property is worth the investment.
- Be sure to have an inspection done on your foreclosure - Dallas is know for bad foundation, and this can cost thousands to repair, also you will need to look at the roof, plumbing, electricity, landscape, wall repair, make sure the house does not have mold or asbestos. This is why you need a full home inspection on your Dallas Foreclosure property.
- You need to make sure that the foreclosure can be financed. Due to the tightening for the mortgage markets you need to make sure that your Dallas forclosure can be financed. Basically make sure it has good foundation and roof, and financing is a little easier.
- Use real estate sites to find the best deals and list of foreclosures - be sure to find a list of foreclosures that you can write down and physically go and look at. Don't go by the picture of the dallas property, you need to visit the foreclosure yourself.
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