Tips & Warnings

• If you just want to browse and see what's out there before contacting an agent, go to http://www.hud.gov, or search online real estate listings.
• Consider subscribing to a foreclosure listing service if you are in the investment business. Enter "foreclosure" into your Internet search engine.
• Some subscription services list distressed homes, others list properties already repossessed. Make sure you know what you're signing up for.
• Many books on buying foreclosed properties contain cost/profit worksheets. Use the worksheets faithfully.
• Be careful of costly foreclosure seminars and courses that teach the same principles that you can find in books at your local library.