Pre-foreclosure Investing / Listing

[Joseph Hernandez]

Hi all Happy New Year

Has anyone successfully invested or sold any properties facing foreclosure? What should be known before attempting to work with these kind of situations? 

[Joe Homs]

@Joseph Hernandez those are the deals we go after everyday.  It's what I call the low hanging fruit.  There are many ways to purchase these types of deals.  

1.  Standard deal, you negotiate a price for the home and make sure there enough to pay everyone that is owed.

2.  Standard deal no equity.  You can take over the loan subject-to the existing financing if it is current or can be brought back current. (No money down deal.)

You need to evaluate every deal as normal. What is the ARV, what is the rehab (if flipping), what will the closing costs and commissions be, and how much profit would you like to make.

Good Investing...