subject: Flipping Bronx Foreclosures For Sale [print this page] Bronx foreclosures for sale are ideal for flipping. This New York borough has a lot of solid neighborhoods ideal for raising a family. The Bronx also has excellent transportation options for commuters so that residents can hold a job in the city and retire to their family home in the Bronx at night. There are a lot of decent schools, hospitals, malls and recreation centers in the area so you will not have to go very far for your needs.
Finding a Home in the Bronx
When the object of purchasing Bronx foreclosures for sale is to resell it for profit one should always check out special home sales that feature properties of slightly less than ideal condition. One such sale are those handyman specials where the featured homes require a lot of repairs but sell for much lower than other types of foreclosures. This is particularly ideal for people with ties to the construction industry, especially those who have a working knowledge of building homes. There are also fixer-upper sales that target house flippers. Again the value of the foreclosure is way low than a regular foreclosure but a lot of work may be involved.
You do not want a property in a place with a lot of foreclosed homes. This is a declining neighborhood and the resell value of homes may not be that spectacular. Indeed some degree of research is required to ensure that you are making a great investment. Apart from picking a good location you must also check the real condition of the home to assess the cost of bringing it to a level where it can attract buyers. A clean title is a necessity, you do not want a property that has several hidden taxes, holds or liens attached to it. You should also start educating yourself on the process of selling a home, how to get it listed on listing services, what the role a real estate broker will play in your home sale. These are the basic things you need to consider when buying Bronx foreclosures for sale.
