Would you rather buy real estate at retail or at wholesale prices? Obviously the answer is "wholesale!" Just like in the stock market, the concept of buy low, sell high also applies to real estate.
One of the best ways to maximize your chances of earning a good return on your investment is to buy a property at foreclosure or as an REO. Such invest- ments are generally a better value than a conventional purchase (but not with- out some increased risk)!
And of course, other real estate investors are also scouring your local real estate market for great deals. Clearly, real estate investors flush with cash aren't going to miss this opportunity. As an individual looking to buy just one or two foreclosure homes in your local market, you may be surprised to find that you're competing with very large and sophisticated Wall Street venture funds with tens of millions of dollars that are buying pools of bad loans or foreclosed properties.
http://ezinearticles.com/?How-to-Buy-Rental-Properties-in-Foreclosure&id=6538723
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