It is possible, however, the transaction must be in cash. How much could you make? We usually seek out properties that are 30-40% (the more, the better!) below the market value. There are certain costs involved and there are certainly some risks as well. We go case by case in determining the feasibility of any given property.
It is not as easy as it might seem- there is a lot of research and market knowledge involved. With recent changes in foreclosure procedures in Nevada, the rate at which lenders are foreclosing will significantly slow down, so this opportunity most likely won't last long. Additionally, the first-time and repeat buyers credits definitely stimulate more purchases, but once again,there's a time limit- the credits will only apply through purchases that are in escrow by April 30th. Please contact me with further questions.
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