http://www.middleclassmillionaires.com/blog/2007/09/25/real-estate-ignorance-in-action/ Real Estate Investment Education Thu, 20 Nov 2008 21:09:47 +0000 http://wordpress.org/?v=2.5.1 http://www.middleclassmillionaires.com/blog/2007/09/25/real-estate-ignorance-in-action/#comment-9031 Ray Caldwell Mon, 01 Oct 2007 22:01:27 +0000 http://www.middleclassmillionaires.com/blog/2007/09/25/real-estate-ignorance-in-action/#comment-9031 A similar situation exists all around us with people who think that they can buy a foreclosure, fix it up and make big money in the process. First, most foreclosures do not sell at "deal prices", 2nd, repair costs are usually far underestimated, and finally, the sales price usually does not compenate for the time and cash invested in a foreclosed property. A lot of people get caught in this trap. A similar situation exists all around us with people who think that they can buy a foreclosure, fix it up and make big money in the process. First, most foreclosures do not sell at “deal prices”, 2nd, repair costs are usually far underestimated, and finally, the sales price usually does not compenate for the time and cash invested in a foreclosed property. A lot of people get caught in this trap.

]]>