Buy Now, says Foreclosure Expert
Now’s the time to pick up properties at fire sale prices, says Ralph R. Roberts, author of Foreclosure Investing for Dummies and Flipping Houses for Dummies.

"Properties could double in value over the next 10 years. But you have to be willing to go in, buy them, and hang on for the longer term," he advises. Roberts, owner of Ralph Roberts Realty in suburban Detroit, who says he has bought and sold more than 2,000 foreclosed properties in his career, believes profitable investing in foreclosures requires exhaustive records searches in advance.

Roberts recommends that buyers of foreclosures create a file that contains a range of property information that will establish what the property is worth and help avoid bureaucratic snafus. Here is his list of must-have information:

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