Business

8 Strategies For Investing In Foreclosed Properties

Published

2 years ago

June 27, 2023

Investing in foreclosed properties can be an excellent way to enter the real estate market or expand your investment portfolio. Typically sold below-market prices, these properties offer the potential for significant returns. Johanna Sicat Altman provides some effective strategies for investing in foreclosed properties, helping you make informed decisions and maximize your investment potential.

Understand The Foreclosure Process

Before diving into the world of foreclosed properties, it is crucial to familiarize yourself with the foreclosure process. Understand the stages, such as pre-foreclosure, auction, and bank-owned properties (REOs). Research local laws, regulations, and timelines specific to your area, as they vary widely. By understanding the process comprehensively, you will be better equipped to make informed decisions throughout your investment journey.

Set A Budget

Establishing a budget is fundamental in any real estate investment strategy, and investing in foreclosed properties is no exception. Determine how much capital you can comfortably allocate to your investment and set a budget accordingly. Consider all associated costs, including acquisition expenses, repairs, maintenance, and potential carrying costs. Adhering to your budget will help you avoid financial strain and ensure a profitable investment.

Perform Thorough Due Diligence

Conducting comprehensive due diligence is crucial when investing in foreclosed properties. Research the property’s history, condition, and outstanding liens or encumbrances. Engage in a thorough inspection to identify potential structural issues or necessary repairs. Also, evaluate the property’s location and potential for rental income or resale value. You can make well-informed investment decisions and mitigate risks by conducting thorough due diligence.

Network With Local Professionals

Building a solid network of local professionals can be immensely beneficial when investing in foreclosed properties. Connect with real estate agents specializing in foreclosures, property managers, contractors, and attorneys with expertise in the field. These professionals can provide valuable insights, assistance, and advice throughout the investment process. They can help you identify opportunities, negotiate deals, and navigate legal complexities.

Attend Foreclosure Auctions

Foreclosure auctions can be an excellent opportunity to acquire properties at discounted prices. Attend local foreclosure auctions to gain firsthand experience and better understand the dynamics of the bidding process. Before participating, thoroughly research the properties for auction and set a maximum bid based on your budget and estimated property value. Exercise caution and discipline to avoid overbidding or getting caught up in a competitive bidding frenzy.

Consider Rehabilitating Distressed Properties

Foreclosed properties often require significant repairs and rehabilitation. While this may seem daunting to some investors, it can present an opportunity to add value and increase the property’s potential. Develop a renovation plan and budget, factoring in the estimated costs of repairs and upgrades. Engage reliable contractors who can complete the work efficiently and cost-effectively. By rehabilitating distressed properties, you can enhance their marketability and profitability.

Evaluate Financing Options

When investing in foreclosed properties, explore different financing options to determine the most suitable approach for your investment strategy. Some avenues to consider are traditional mortgage loans, hard money loans, private lenders, or partnerships. Evaluate the terms, interest rates, and eligibility requirements for each option.

Be prepared with pre-approval or proof of funds when dealing with time-sensitive foreclosure opportunities.

Patience And Persistence

Investing in foreclosed properties requires a mindset of patience and persistence. Finding the right property at the right price can take time and effort. It’s essential to be patient and not rush into a deal that doesn’t align with your investment goals or budget.

Foreclosure opportunities can arise sporadically, so staying persistent in your search and monitoring the market regularly is crucial. Maintaining a patient and persistent approach increases your chances of finding hidden gems and securing favorable investment opportunities.

Conclusion

Investing in foreclosed properties can offer lucrative opportunities for savvy investors. By adhering to these strategies shared by Johanna Sicat Altman, you can confidently navigate the foreclosure market, minimize risks, and maximize your investment potential. Conduct thorough research, set a realistic budget, engage local professionals, and remain disciplined throughout the process. With careful planning and execution, investing in foreclosed properties can be a rewarding venture in the real estate market.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

4 days ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.