Foreclosure 101

Seems like everybody is riding this horse

Investors across the country are focusing on the foreclosure space, making money buying distressed properties. Hardly a day goes by when I don't hear another foreclosure investor success story.

I haven't participated in this sector yet, but would jump in if I had an edge in finding properties ahead of the pack. My friends that are successful with these distressed properties have made connections with the banks and get an early look at properties ahead of the pack.

There is intense competition for these assets in many parts of the country. The leading states for foreclosures are: Colorado; Georgia; Ohio; Michigan and Texas. Most investors prefer to purchase a distressed property from the owner rather than from an institutional owner.

Don't bet the house on foreclosures [Rocky Mountain News]