Make big bucks on foreclosures! You see the advertisements all the time.
But is it really possible, for the enterprising amateur, here in Wichita?
Possible? Yes. There are bargains out there.
But the reality is that it's pretty darn difficult for amateurs to make quick money flipping houses, say local professionals already in that business.
The Wichita market isn't overwhelmed with foreclosures, so lenders aren't forced to sell houses for pennies on the dollars.
And there are professionals already buying and selling foreclosed homes. They know the system, they know the law, and they have the connections to take advantage of the good deals.
Read the complete story at kansas.com