Pros and cons of buying abandoned properties

There's money to be made, but it's tough work

The real estate event of the summer
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The theme of "Make Money in Abandoned Properties" by Chantal Howell Carey and Bill Carey sounds unusual and enticing. But once the reader passes beyond the first few chapters about the characteristics of abandoned properties, the reality sets in that the methods are virtually the same as for buying foreclosure, fixer-upper and other distress properties. "Owners abandon properties for three main reasons. These include financial reasons, death or divorce, and when the property becomes uninhabitable," the authors explain. Sounds much like foreclosure property, doesn't it? Purchase Bob Bruss reports online. Especially valuable is the investment outlook of the Careys toward real estate. They say, "The truth be told, however, there is no real estate market. There are only people to talk to. We say it this way: contacts create contracts. Contact with people creates opportunity for you as a real estate investor. To be a successful real estate investor, you must talk to people." Later, they ...