Hey guys,

I am thinking about purchasing house that is currently on foreclosure when I finish college. I actually want to invest my money into something good rather than my acura

Any input about foreclosure homes

 

Forclosure homes can be risky. Investing in property when you don't really know what your doing can be very risky. Just ask any of the people selling a home being forclosed upon.

If you are looking for a long term place to live, buying a house as an investment is not a bad idea, as long as property taxes are not more than rent would be. If you are just looking for a place to invest money, real estate is a poor choice in general. You are better off investing in stocks. The historic growth of home values is 5% the historic growth of the stock market is 8%.

 

Do you have an opportunity to inspect the home prior to bidding?
Is it bank owned?
Have you do a market analysis to determine the optimum price to offer?
Do you have approx 10-20% in cash to handle the "uh-ohs" with buying a foreclosure?

 

Since you are 19, are you making this purchase now or in 3 years?

Because the market likely (hopefully ) will be different in 3 years?