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FAQ.

Posted by SeanW on May 23, 2003 at 7:20 AM

In Reply to: Where can the best deals be found in this current market? posted by Ron on May 23, 2003 at 3:24 AM

Ward probably won't reply, since he's answered this before in the archives.

Go to the auctions yourself and watch what happens. If people are bidding properties above 80% of the retail value, then there's too much interest in the sales. You have to door-knock, and try and buy before the sale. Ward rarely mentions REOs since if it was a good deal in the first place, it should have been bought by investors at the courthouse.

I'd say that strictly speaking, door-knocking has the most potential anyway, since you can acquire properties with financing in place, for very little up front cash. But you have to be a sharper deal maker, and better generally at evaluating, repairing, and marketing properties quickly... After all, a house bought at the sale does not necessitate any profit to be split with the owner, and it's carrying cost is minimal.



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