Monday, February 28, 2011

Foreclosure Condos

Two weeks ago, hubby and I met our realtor and checked out some foreclosure properties in a 5-mile radius of our place. Luckily for us, we found a nice and right on our budget condo which was a potential "property income". It was a 1B/1B with a nice size patio for only $14K. Unbelievable price right? It can be rented for $600 and in 3 years, a return of investment is likely to happen. The condo is not a move-in ready because the Residential flooring is torn and needs new carpet/tile. We were so excited but, our realtor called us an hour ago that the property was already sold to someone. Home buying needs patience and perseverance, a reality that home buyers should possess or they will get discourage at the end. Now, when we bid on a property, we play it by ears. If we get it, lucky us and if we don't, we are enthusiastic to find another property. Presently, we bid on three properties and hoping to hear a positive response from one of the listing agent.

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