I've been buying foreclosed properties for almost 10 years. Here's what you should know before buying one.

Billy Pritchard has been buying foreclosed properties for almost a decade. Courtesy of Billy Pritchard Real estate broker Billy Pritchard buys and flips foreclosed homes. Foreclosed homes usually come with a lower price tag, but a higher risk. It can be a great deal for those willing to take a risk and put in the work. Billy Pritchard loves a deal. The Lafayette, Louisiana-based real-estate broker, 46, found his niche buying and flipping foreclosed homes after buying his first foreclosed home…