Foreclosed House and Lot in Metro Manila - Tips for Investors and Real Estate Professionals Buying a foreclosed house and lot in Metro Manila can be a good investment if you know what you are doing. But since these types of properties are heavily discounted and very popular with investors, competition can be tight. Knowing where to find these properties and how to choose the right one to buy can maximize your earning potential. Here is a list of tips for investors and real estate professionals who are interested in purchasing a foreclosed house and lot in Metro Manila: • Metro Manila is a megacity; it is home to several commercial and business districts. The best foreclosed house and lots are in the, so-called, ‘hot’ locations which are adjacent to these financial areas, preferably one to two rides away. If you are looking to sell your property to a family, always look for a house and lot that is in close proximity of malls, supermarkets, and public markets. It will be an easy sell as it caters to their lifestyle. If your potential customer is a single professional or someone who is about to start a family, you should look for properties that are close to work areas and offices. • Always be conscious of pricing. Find out what the average market value of property is in that area before you start bidding. Wise potential buyers are acquainted with the property prices within the area and won’t buy your property if it is too expensive. • Check foreclosed properties online. You do not always have to go out and hit the pavement when you are looking for the right foreclosed house and lot in Metro Manila to buy. You just need to find a brokerage service website that offers great deals in foreclosed property listings. • Inspect the property. Look for cracked walls, broken windows, damaged roofs and other repairs that you need to do. You can hire a professional to make a full evaluation of the property. Afterwards, you can then suggest the price that you are willing to pay for the property, considering all additional costs involved in repair and maintenance. Buying a foreclosed house and lot in Metro Manila and then selling it for a higher price can make you some serious money. This is a great business opportunity if you do it right. You just need to follow these tips to ensure a great investment.