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Foreclosures.com provides its members with plenty of useful information for buying, or investing in, foreclosure properties across the US. It lists more than 10 million properties, including auctions, pre-foreclosures and potential group investments.
Perhaps the most unique features available to members are the training options. The site’s co-founder and REO expert, Alexis McGee, has plenty of experience in foreclosure properties. She’s even written books on the topic! You can watch her training videos or even join live webinars where she’ll tailor her lessons for the attendees. As such, this site seems suited towards people who are considering property investment as a source of income, as well as people who are looking for a bargain on a new home.
Finding a property is simple as you can easily search based on a few simple parameters. These include location, number of bed and bathrooms, and price range. This could be improved upon further, allowing you to find particular kinds of properties or based on specific features (such as whether they have a garden, air conditioning, parking spaces and so on) but for most people this simple search will be fine.
Foreclosures.com claims you can save between 20% and 50% buying a foreclosure property through them. We’ve seen this statistic elsewhere, so are inclined to believe it. To get the best deals you’ll want to make sure you’re quick off the mark, and thankfully the site seems to update its information regularly.
As we’ve mentioned, there are over 10 million properties listed on the site, which is very substantial. In fact, it seems like too many, as most other sites struggle to hit above 2 million. Subsequently we’re left wondering if there are a few stragglers left online which ought to have been deleted (either because they’ve been sold or are no longer available).
When you find a property, you’re presented with a map, market value and size information. You can check out the property’s history (such as who owns it, loan amounts, lender names and more). You can also view multiple photos, although pretty much all of this information is only available once you’re a paying member.
Membership is a little pricey, but it’s in line with what several other websites charge. There’s also a 7 day free trial which allows you full access, and it’s definitely worth giving that a go before you decide to sign up on a contract. If you decide not to continue using the site after the trial period, you will need to cancel your membership or you’ll automatically be billed for the full amount each month.
Is Foreclosures worth the membership fee? We think so. Whilst we’re a little skeptical about the reliability of the sales potential of 10 million plus properties, each property listed provides plenty of information for you to make an informed decision about which buildings to investigate and invest in. The various training features are also a great added bonus and provide an opportunity for some real expert advice, which you may not find elsewhere.
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