Pros and cons of investing in real estate foreclosures

Expert reveals tips on how, when to buy

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A few days ago, while cleaning out a file cabinet, I found a copy of my book, "How to Earn Big Profits from Foreclosure and Distress Properties," which I wrote way back in 1992. It has been out of print for years so don't try to buy it. As I glanced over the book, I was shocked at how much has changed since then and how much easier it is today to find and profit from foreclosures. Although the basic foreclosure procedures remain virtually unchanged, thanks mostly to the Internet it has become much easier today to find and profitably acquire foreclosed properties. Purchase Bob Bruss reports online. While recently reading an excellent new book on this topic, "The Complete Guide to Investing in Foreclosures," by Steve Berges, I learned approximately one out of every 22 houses is in the foreclosure process. As I drove down the street yesterday, when I counted 22 houses, I asked myself, "Which of these owners is behind in their mortgage payments?" Of course, not every house or condominium ...