January 12, 2007

How Did I Ever Get Started in My Home Foreclosures Investing - Part 2

I know from all the books I read and even attended some real estate seminars that there's some good money to make in home foreclosures. But actually, I took so much planning, preparations and even research that felt like never ending research. I was so scared that if I ever mess up my very first home foreclosure deal that I might lose my rear end because of my stupidity.

But this home was different. First, I got hold of this real estate agent and have him tell me more about this foreclosed home. And it's HUD home that is a 3-bedroom and one and half bath. By the way, I was eager to get this home since it's a single family home which was the recommended starter investment home for beginners. Well, that's what I learned from all of those real estate courses, books and seminars I learned.

This home is a fixer-upper for sure. The picture may not show the real extensive work involved in this home but there's lot of work here. This is the kitchen where I have a lot of lessons learned in refinishing those cabinets (more stories about those cabinets later on…).
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When I bought my other fixer-upper home sometime earlier, I noticed most of the buyers head straight to the kitchen! It just blew me away, why are they heading to the kitchen first? And then I learned that the kitchen cost the most to furnished. And guess who's in the kitchen most of the time…THE WIFE!

After that very first experience, I always remember to pay close attention to the kitchen closely. And I really got my hands full on this foreclosed home.

Click here for the continuation of Part 3 Series.

Click here if you missed the Part 1 Series.

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