Buying a foreclosed property isn’t very easy. Keep in mind there are some serious drawbacks to investing in this type of property. For example, the tenant may still be in property or you may not be able to see the condition of the property. And there may be other liens against the house that you may inherit as the new owner.

So, first brush up on the laws in your state by going to the county clerk’s office. To find out what properties are available, you can check the listings in your local newspaper.

Or, you can do your research online. Yahoo! has just launched a site for foreclosed property. There are also places online that list foreclosed properties, like foreclosure.net and realtytrak.com.

The reason you buy long term care insurance is to protect your assets in case you need to pay for assisted living, home care or a nursing home stay. Right now there are about 5 or 6 big insurance players in the market. To learn more about long term health insurance, go to Federal Citizen Information Center at www.pueblo.gsa.gov.

If you’re found a company you’re comfortable with, make sure you find out just how strong the company is financially at Moodys.com, standardandpoors.com, or at fitchratings.com. Remember, you want a company that’s going to be around for a while.

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For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi.