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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

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We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. Auction sale.

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Flipping Houses in New York: 5 Cities to Consider

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You can save money by doing some of the work yourself, of course. According to Wise, putting in a little sweat equity on the interior work can improve your profit margin. “If Money was cheap but it’s not cheap anymore.” When buying an REO ( real estate owned/lender-owned property ), the banks like to work with cash.