OK, it all sounds great on paper, but if it’s that easy, why doesn’t everyone do it?  For the same reason you don’t want to—it’s actually a lot of work.  Dealing with contractors and pulling permits, collecting rents from tenants, scheduling capital improvements, dealing with city or township officials and utilities companies, staying on top of marketing and accounting, etc.-- can be major headaches for people unfamiliar with the process.  The only job you will really have with us is deciding whether or not you feel comfortable with the deals presented, the terms you want, and experiencing phenomenal returns.  You can specify any level of involvement you choose (and put everything in writing), so you can control the entire process if that is what you decide.  Until you get familiar with the process, you may want to do that.  After one or two deals, you will probably not feel the need to micromanage, but it will always be your prerogative.

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You're probably thinking, "Anyone can just buy a foreclosure right now.  Why would I need you?".  You'd be right in one respect--there are a lot of foreclosure out there.  Many of the recent foreclosures, however, are occuring because of poor lending practices, bad appraisals, bad loans (ARMS, etc.), and speculation.  Banks are not giving these properties away.  In fact, often times these homes sell for more than they're actualy worth as people bid them up at auction hoping to get a "bargain".  We are not in that business.  If you are about to try your hand at buying foreclosures without any experience, at least read the following article from the Wall Street Journal (2/12/08):    http://online.wsj.com/article/SB120275539042859517.html