According to Inman News, real estate investors are likely to be THREE TIMES AS ACTIVE as other types of home buyers over the next two (2) years. I'm hoping that's a silver lining in a whole heck of a lot of dark clouds in the real estate world. Makes sense to me. If you are a lucky soul with extra cash and some savvy, it's a great time to buy undervalued investment real estate. Foreclosures are a great place to start. But I don't recommend foreclosure auctions until you know what you are doing. Find some already bank-owned properties, also known as "REO," for "real estate owned" properties. But recognize that most REO properties are going to require more than cosmetic updates. People that can't pay their mortgage have not been able to keep up with scheduled capital maintenance. Many REO properties are going to have some significant deficiencies.
My best advice: If you are new to the game, start slow and start small. Don't get in over your head on your first deal. And for goodness sakes, find a good real estate agent experienced in real estate investing.
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