People buy Santa Cruz foreclosures for a lot of reasons: to live in, as fixer-uppers, to flip and for investment purposes. The current real estate market isn't so hot for quickly selling foreclosures at a profit. Instead, consider purchasing foreclosures and holding on to your investment until the market turns around. In the meantime, earn money by renting the houses.
Here are 5 things to look for when buying Santa Cruz foreclosures to rent out:
1. Most Santa Cruz foreclosures are nice homes that, for one reason or another, the sellers have had to let go. With the variety of houses available, take your time and find a property that doesn’t require a lot of major renovations, unless, that is, you’re a handy man and enjoy fixing up homes.