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Thursday, June 27, 2013

Get Your Buyers to Act Quickly

Get Your Buyers to Act Quickly

Saturday, June 8, 2013

Foreclosures are cheap, but pitfalls may await buyers

ST. LOUIS – June 7, 2013 – Back in 2011, Christina and Brian Jenkins decided to take up a sideline as landlords. Since then, they’ve acquired three rental houses in the St. Louis area. Two of them were foreclosures.

They have advice for those who want to pick up a foreclosed house on the cheap, and it comes from a fairy tale.

“You have to go through a lot of frogs before you find a prince,” Christina Jenkins said.

The frogs may have ripped-out plumbing, or a crumbling roof or an air conditioner that disappeared. The princes sit in nice neighborhoods and need some paint, carpeting and other minor fixes.

The princes and frogs have one thing in common. They’re usually cheap compared with houses of similar size in the neighborhood. That’s what attracts landlords as well as would-be homeowners.