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Homeowners with three distinct troubles give the new real estate investor a great money making opportunity. A "Triple D" is a property that is involved in a Divorce and a Doghouse with a loan in Default. The term "doghouse" comes from realtors in Southern California who used the saying to describe the worst fixer-uppers foreclosures for sale on the market. However, such distressed homes may just look worn out or "tired" with just simple cosmetic work needed to be on the same level with other homes in the area.

Things to Look for in a Money Making Distressed Property

The most difficult type of house for a desperate homeowner to sell is a "doghouse", "fixer-upper" or "dump". These badly maintained houses frighten most amateur buyers. Buyers in the market for a personal home would need the money for the down payment and closing costs, new carpeting, furniture and appliances, possible roof repairs, and other continuing maintenance required to make the home transformed from distressed home to home sweet home.

As you search through our distressed properties listings, keep the terms "fixer-upper", "handyman special" and "as is" in mind. After you discover your diamond in the rough, the distressed property that you can turn from doghouse to dollhouse, do some research to find out the seller's dilemma and offer a solution to the predicament. People selling distressed properties are commonly experiencing financial hardships and need cash fast. With this situation in mind, you will be likely to get a lower price on the house if you can close quickly.

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• Keep an Eye Out for the "Triple D"