In today's Real Estate market everyone wants a deal. The best deals out there are the homes that are currently Bank Owned, known as REO's or Foreclosures. These properties are often distressed, but not always! A savvy buyer can pick up a house that needs nothing more than a fresh coat of paint and new carpet for an incredible price.
For the investor, these homes can be your bread and butter. Renovate the property and put it back on the market, or hold the house as a rental and ride the equity wave. It may be a number of years, but at the right price, a bank owned property could provide you with a positive cash flow on the investment.
I have helped many Investors as well as those buyers who want to owner occupy a house, purchase REO or Bank Owned/Foreclosed properties. Tucson has many opportunities but you must act fast in this market.