There is this company that has a virtual lock on foreclosure sales. They definitely are on the right track. I think it's RealtyTrac. The thing to remember is that not all foreclosures are listed on the multiple listing service's book. RealtyTrac can help you with any purchases as long as they are listed. You are on your own as far as the rest are concerned. Talk to all the banks regarding their Real Estate Owned (REO) portfolios. You can get incredible deals right now, just don't bite off more than you can chew. Good luck.
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