To Buy Cheap Real Estate, you have to calculate the financial resources and monthly cash flow you have available to put down on a mortgage and monthly mortgage payment. After that, define the type of home that you wish to buy at your price point. Then, Read your local newspaper and visit real estate websites to search for prices on comparable homes that share similar characteristics with your target real estate purchase. Next, List the addresses and agent information for properties that sell at a discount to comparable real estate.
Forth, evaluate the market for foreclosed homes if you can’t close a deal for cheap real estate with an owner who is current on his mortgage. After that, divide the foreclosure process into its three separate stages: pre-foreclosure; foreclosure auction; and real estate owned (REO). Then, Visit the local courthouse for foreclosure auction dates and times if you can’t close an attractive deal in the pre-foreclosure or REO stage.