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2280 Shryer Ave E North St. Paul, MN 55109
Grab your paint brush and your tool belt! Great opportunity for investor or handyman to add cosmetic updates...

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Foreclosures

Purchasing a foreclosure can be a wise investment whether you are first time buyer, moving up or an investor. The changing market place leaves room for many opportunities. Many homes are being sold at significantly discounted prices below market value. Most of the properties available need a little sweat equity (i.e. carpet, paint). Some of the homes need significant rehab.

Foreclosure Property as a Home

Buyers beware - Some homes require city code compliance requirements. These can be costly as permits, inspections and licensed contractors will need to complete the work. Also, a number of cities have registered vacant homes. Many of these homes cannot be occupied until the repairs are complete and approved.

Properties that are in severe disrepair or need rehab are available for purchase through conventional financing means or cash. A select few are available for purchase and approved for FHA financing. Although there are programs available that would enable a FHA purchaser to make repairs.

Foreclosure Property as an Investment

If you are looking to invest there are many deals that would enable one to have a steady cash flow through maintaining a rental property. "Flipping", meaning repairing a home and attempting resale, can be a risky and rewarding business depending on the current market conditions.

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