While the word foreclosure is in the papers every day it seems, those looking to get into investing in foreclosures need a plan of attack.  Consider this article from the News & Observer out of North Carolina:

“You don’t know what you can sell it for until you get your hands on it,” said Clayton mortgage banker Kenneth Williams, who invests in foreclosed homes as a hobby. He paid $80,000 for a 1,500-square-foot house in southwest Wake County in 2003 planning to flip it, but found it wasn’t easy.

The former owner had declared bankruptcy and refused to move out. It took a month and a half to get the owner evicted; then the owner broke into the house and stole a refrigerator, stove, dishwasher and stove vent fan, Williams said. He spent $15,000 on new siding and flooring.

A good plan is essential if you plan on investing in foreclosures.  A great way to get some free information is to sign up for free tips or a newsletter, like the one found at www.BestForeclosureSystem.com

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