The Run-down Foreclosure Next Door: What You Can Do

The Run-down Foreclosure Next Door

Another method to put new owners into the run down foreclosed house is to contact either a real estate investor or real estate wholesaler. Both of these professionals specialize in obtaining or buying distressed properties and taking steps that result in formerly run-down houses that are fixed-up for a new resident. Both the house and the neighborhood look better as a result of the efforts of real estate investors and wholesalers.

You can find these people at real estate investment clubs. You can look up the clubs in your area by going on the web. Also, real estate agents, Mortgage Brokers and Bankers often deal with them and might be able to refer you to a wholesaler or investor in your area who would be interested in acquiring the property.

Finally, believe it or not, the people who put up those "We Buy Houses" signs could be interested in the run-down property that is blighting the neighborhood. Call them and see if they would be interested.

I am a real estate wholesaler working in the Southern New Jersey area. My colleagues and I are always interested in the opportunity that foreclosed houses, run-down or not, represent. Some of my colleagues buy in both the Southern New Jersey and Philadelphia area.

Fred Strauss of NJ @ Dec 04, 2008 13:15:08 PM