Thinking of buying foreclosed homes on a Florida beach? You need a plan.
Buying foreclosed homes, especially Florida beach property is not a slam-dunk like is hyped on TV. You need to have a plan for purchasing foreclosures on Florida beaches.
If only buying foreclosures on Florida beaches and "flipping" them for some outrageous profit were as easy as late-night cable TV makes it sound...
Yes, the rewards can be great...but you need to go into this endeavor with your eyes open, your mind focused, and both hands on your wallet.
Here are just a few questions you might not have thought about:
* What particulars of the Florida state lien law do you need to be familiar with?
*Should you check a property's casualty and property insurance claims history before making a written offer?
* What are the 15 most common liens encumbering titles to homes facing foreclosure?
* What information should you personally verify (EVERYTHING!) and how do you go about this?
* Why should you hire an experienced title abstractor to do title searches for you?
Was that little section enough to make you hesitate for a few moments?
Good, please get this in your head...if you are looking to buy foreclosed homes on a Florida beach you need a plan.
For about $16...the price of a large pizza and a beer, you get the motherlode of how to purchase Florida beach properties before they reach formal foreclosure.
Written by a guy who lives right here in the Tampa Bay area and has been purchasing pre-foreclosed properties since 1980, Thomas Lucier gives you step-by-step instructions and checklists for every imaginable situation that could trip you up. Starting with his "14-Step Process for Investing in Pre-Foreclosures" on page 12, Thomas takes you step-by-step through the entire process.
He discusses everything you need to do before submitting a written offer on a Florida beach property.
Late-night infomercials are written to get you jacked-up about Florida being the hotspot for buying foreclosed homes and condos.
They make it seem like you can bid $5 at an Florida foreclosure auction and walk away with a $400K condo on Treasure Island.
On page 20 of Thomas' book, he provides you a list...and paragraph on each of the "Twelve Things Most People Are Never Told about Public Foreclosure Auction Sales".
That ought to be enough to keep you away from those things for the rest of your life and to buy foreclosed homes in a systematic and intelligent manner.
If you decide to use your $16 for beer and pizza instead of purchasing his book, at least check your local library to see if it is available and read it while you eat.