I am a business owner and I want to get started in foreclosures. I recently went down to the courthouse and got a list of all the foreclosures in my area from the last 4 months. I went through a few and saw some that were really good deals and a few that were not at all.
I have about $100,000 in cash that I can use to buy some property at auction, but I don't know if that is the best way to go. I need some advise on what to do next. I have a realtor I am working with so I have that base covered. I have the cash. I even have the corporation that I can put the property in once I own it.
Is it as simple as finding a property that is a good deal, buying it at auction for cash, refinancing and either renting or selling?
I feel like there may be more to it and I want to know for sure I have done my due dilligence before I make my first move.
Like I said, this is the first time for me working with foreclosures, so I am a little nervous