I just realized something when I inspected a foreclosed property recently and I would like to share it here. While doing inspections of foreclosed properties as part of due diligence, always check the condition of the service entrances for utilities like the electricity and water.  I failed to do this twice for foreclosed properties I have acquired recently, and only learned about these after I had already acquired those properties. However, I would like to spare all beginning real estate investors out there from the potential problems that may happen if you overlook this.  Let me try to run through the potential problems below. Read the rest of this entry

Have you ever tried calling up a bank to inquire about a foreclosed property that interests you and you found yourself forgetting a lot of questions that you were supposed to ask? You then quickly say thanks and just hang up but when you finally compose yourself and remember what you wanted to ask, you have second thoughts because you feel too embarrassed to make another call. I’ve been there and I know how it feels. However, there is a solution for this. All you need is practice and a ready set of questions that can serve as your script so you can ask questions like a seasoned real estate investor.

Here goes…

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