Colorado Leads the nation in Foreclosure Rates

Foreclosure Rates increase in Colorado (Link to Story)
Foreclosures Auctions up 26% in North Texas (Link to Story)

Foreclosure increases are coming from all across the Nation.
What I recommend to friends and family is to:

1- Get on as many free foreclosure listings as possible
2- Subscribe to any good paid auction and foreclosure list service
3- Read as many books and blogs on foreclosure investing
4- Get on a couple of foreclosure forums and groups and study what people are saying
5- Visit some of the houses from the lists you've gathered
6- Talk to the real estate agents in charge or a trust agent
7- Get some area prices by visiting www.zillow.com
8- Make an offer of 65% to 70% of the 30 day value of the property
(See my earlier blogs on definition of 30 day value)
==> Side Note: Most of your offers will be rejected. This is OK. You are gaining experience.
9- Look in the paper and see what people are asking for their homes in the area
10- Look at the rental rates and vacancy factors in the area you are targeting
==> Side Note: The rental research will help you know what you can get for rent in the even you are unable to flip the property quickly.
11- MAKE SURE YOU HAVE A WEASEL CLAUSE in the offers
Side Note: WEASEL CLAUSE: We'll cover that on the next blog posting

Good luck and happy investing

Visit House Foreclosure and Investing Blog to read Forclosure Experts discuss Foreclosure Investing and Strategies on a daily basis.