Re: Any ideas for a guy buying fixer-upper house t

Posted by Mark - IN. on September 01, 2004 at 16:53:44 from (205.188.117.10):

In Reply to: Any ideas for a guy buying fixer-upper house to re posted by Bryan on September 01, 2004 at 09:31:56:

Years ago, I'd considered buying a forclosure in Illinois, and for like $100 sent away for a list of foreclosed houses in various close counties. Got the lists and were all like Beruit Lebanon. And just so happens a story showed up in the Chicago Tribune on foreclosed houses that caught my eye, so I read it. In the state of Illinois, the former owners of foreclosed homes have up to 5 years to make restitution and come back and reclaim their former homes, although they do have to pay the new owner(s) for repairs/investmensts in the home/property. The thought of being tossed out on my rear after rebuilding a home, although I'm sure unlikely, really turned me off and my first home wasn't a foreclosure. I do know of people that pick them up for cheap, do cheap fixes, and then sell them for a profit though.

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