Thinking of buying a condo that's in foreclosure? Don't expect to get rich.

Thinking of buying a condo that's in foreclosure? Don't think you're going to get rich quick. "The profits are not there like they were the past couple of years," says Nick Jekogian, CEO of Signature Community, a New York real estate development firm. "I don't think anybody's saying it's going to be a year or two years down the road. It's probably more of a 5 or 10 year cycle. And at that point there's potential for capital gain." Jekogian's advice if you're thinking of buying a distressed condo? "Really spend a lot of time understanding the numbers and what you're getting into." Jekogian talks with John Wordock.