I have been interested in foreclosures for the longest time but never decided to research further or take advantage of the market. Because it is a good time to buy I was hoping someone out there can offer some advice (in addition to the recent research I’ve been doing).

Because I don’t know much about the process I will throw around a couple terms I’ve heard lately: REO, gov’t tax lien certificate sales, title & bankruptcy search, property inspection, and HUD foreclosed.

I wanted to try a tax lien certificate but after doing research I’m seeing that this may not be the best way for me since I am so inexperienced. What is the best way for me to purchase a foreclosure and how do I get started? How long does the process generally take? Is there a way that I can see the property before bidding at an auction? If a property is a REO then I should be able to see the property before purchasing, right? Last question, When can I get the property inspected and a possible appraisal (before or after the property is bought)?

Whomever reads and answers this question, thank you in advance! I know this is a long question but I am serious about buying a foreclosure and doing the research necessary to attain this goal. Thank you.

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I’ve read and heard the following:

*If the owners of the property continues to not pay the property tax, All mortgages are wiped out? is this TRUE or FALSE?
* How can I own the property "Free and Clean" if the owner does not pay the property tax, and the home goes into foreclosure, he does not file bankruptcy?
*What about the other Liens on the property? Mortgage Liens?
* is this a good investment buying Tax Liens ( to potential become ownership)? free & Clear?

ONLY Real Answers please, NO negative remarks ..
5 points to best answer.

Real experience/professional preferred.

Thank You.
spelling error;
FREE AND CLEAR OF OWNERSHIP

Thank YOU!

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What are some ideas for investing if one has around K in cash today. Moderate risk tolerance - don’t want to loose it all. Time horizon of 3-5 years.

Rental income properties?
Tax liens?
Buying a franchise?
Local mom & pop business?
Stocks? Bonds?
What are some ideas for investing if one has around K in cash today. Moderate risk tolerance - don’t want to loose it all. Time horizon of 3-5 years.

Rental income properties?
Tax liens?
Buying a franchise?
Local mom & pop business?
Stocks? Bonds

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Further clarification: I was hoping for ideas that don’t have anything to do with banks, brokerages houses etc.. Maybe more of business or trade or hands-on value addition and not necessarily hands-off investment.

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