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Channel: Trulia Voices: As a recent college graduate, how difficult is it to purchase a foreclosed home? Then renovate and sell it for a profit, in today's economy?
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Answer by Wendy

Whether a college graduate or not, the first step of course is buying the property - you need cash or a mortgage. Mortgages for investors are harder to find these days but not impossible. Mortgages on...

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Answer by Anna Brocco

Much will depend on your finances, and exactly how much work the property will need--most do need extensive repairs, how quickly can any repairs can be made, etc.--If you haven't done so yet, visit...

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Answer by Lynn Pisani

Cami, As long as you have money and good Fico credit scores it doesn't matter what age you are when buying a property. Since it is a banked owned property, you must be prequalified by the lender and...

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Answer by Allen Bauman

Hi Cami It doesn't matter if you are a recent college grad or any age(generally above 18) in this kingdom cash is king. Or you must live in a kingdom where you can get cash and be a prince for a while....

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Answer by Dan Chase

If the average house takes 5 months to sell, how will you make payments for that long? Some houses have been for sale for well over a year. Could you keep the house that long if needed? It sounds good,...

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Answer by Laud

Turn off the HGTV. Go get a job. Flipping foreclosures is best left to professionals who have already been bankrupt once and know their way around the court system. Just BUYING a foreclosed house is...

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Answer by Yolanda C

I work with Real Estate investors who purchase these deals with cash. They flip the home to make a profit of course. A lot of the times the properties are still a bargain. If you are interested in...

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Answer by Paula Bailey

Hi Cami, If you find a competent mortgage broker he/she can walk you through the process of obtaining a loan to purchase the property and do the necessary repairs. My brother is a mortgage banker and...

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Answer by David Chiles

Thank you for your question Cami. Renovating a home and selling it for a profit, also known as 'flipping,' is not happening as much in today's market because there has been little appreciation in the...

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Answer by Wendy

Whether a college graduate or not, the first step of course is buying the property - you need cash or a mortgage. Mortgages for investors are harder to find these days but not impossible. Mortgages on...

View Article

Answer by Allen Bauman

Hi Cami It doesn't matter if you are a recent college grad or any age(generally above 18) in this kingdom cash is king. Or you must live in a kingdom where you can get cash and be a prince for a while....

View Article

Answer by Wendy

Whether a college graduate or not, the first step of course is buying the property - you need cash or a mortgage. Mortgages for investors are harder to find these days but not impossible. Mortgages on...

View Article

Answer by Anna Brocco

Much will depend on your finances, and exactly how much work the property will need--most do need extensive repairs, how quickly can any repairs can be made, etc.--If you haven't done so yet, visit...

View Article


Answer by Lynn Pisani

Cami, As long as you have money and good Fico credit scores it doesn't matter what age you are when buying a property. Since it is a banked owned property, you must be prequalified by the lender and...

View Article

Answer by Allen Bauman

Hi Cami It doesn't matter if you are a recent college grad or any age(generally above 18) in this kingdom cash is king. Or you must live in a kingdom where you can get cash and be a prince for a while....

View Article


Answer by Dan Chase

If the average house takes 5 months to sell, how will you make payments for that long? Some houses have been for sale for well over a year. Could you keep the house that long if needed? It sounds good,...

View Article

Answer by Laud

Turn off the HGTV. Go get a job. Flipping foreclosures is best left to professionals who have already been bankrupt once and know their way around the court system. Just BUYING a foreclosed house is...

View Article


Answer by Yolanda C

I work with Real Estate investors who purchase these deals with cash. They flip the home to make a profit of course. A lot of the times the properties are still a bargain. If you are interested in...

View Article

Answer by Paula Bailey

Hi Cami, If you find a competent mortgage broker he/she can walk you through the process of obtaining a loan to purchase the property and do the necessary repairs. My brother is a mortgage banker and...

View Article

Answer by David Chiles

Thank you for your question Cami. Renovating a home and selling it for a profit, also known as 'flipping,' is not happening as much in today's market because there has been little appreciation in the...

View Article
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