Monday, October 29, 2007

Buying Our First Foreclosure

I mentioned to Mike a few weeks ago that when we got back to Arizona I wanted to buy and sell foreclosures. There are so many foreclosures here in the valley and tons of opportunities are just staring us in the face.

He wasn't very enthused about the idea. I knew he wouldn't be. He wanted to know if there were so many opportunities to do it, why everyone wasn't doing it. I asked him if he knew how to do it. He admitted that he didn't, and I pointed out that the average person doesn't know how to do it. but since I sold real estate for 15 years, I do know how to do it.

We found our first foreclosure before we even left Utah. We put an offer on it Saturday and met with a loan officer today. So far everything is a go. We'll see how it goes from here.