9/15    Has anyone bought foreclosure properties? How about tax sale
        properties where the government sells the property to cover
        taxes not paid but not the amount of remaining loan?
        \_ I have not.  My (very distant) understanding of it is that there
           are so many people out there bidding on these properties trying to
           get rich quick that you're really unlikely to get a good deal
           on one.
           \_ I've bought HUD repos in LA, they were more numerous there.  I
              don't know that this area had any real supply.  In my experience
              the deals went away not because of get-rich-quickers, but because
              home buyers started showing up and they were willing to pay much
              closer to the actual market value of the home, which i was not
                                                -crebbs
              closer to the actual market value of the house.  -crebbs
              \_ Most people don't want HUD homes, not even for investments.
                 Like with anything else, you can get a good deal if you
                 spend the time looking. You will be up against a lot of
                 pros with a lot of cash who will know what they are doing.
                 When I found something worthwhile I didn't get it. If you
                 persevere you ultimately will, though. Don't think that
                 it will be easy, though. I heard you are better off buying
                 *before* it is foreclosed on - when the person is in
                 trouble. You can give them some cash to solve their
                 problems in exchange for a great deal on the house. The
                 hard part is identifying those people in advance, although
                 there are lists of people behind on their mortgage. You'd
                 have to cold call or send flyers, though.