cjacobs21's blog

I've been wanting to get involved in Real Estate Investing for a while now, but have had that fear of failure, so I haven't taken action until now. I have found a foreclosure that has already gone through auction with no bidders, so it will be going back to the bank and be in a six month "Redemption" period. I'm not sure exactly what that means, but I know that banks don't want empty houses sitting on their books. I know this house would be a great investment as a rental property. Rentals are being grabbed up as soon as they are listed in this area. I want to take advantage of the market right now, but I don't know what step to take next. Do I contact the bank that currently holds the lien on the property and try to negotiate a deal with them?