Anyone ever purchase a HOA foreclosure deed?

[Matt R.]

I have a opportunity to purchase one HOA deed at 25 cents on dollar. I can rent it out and negotiate with bank for clear title in the meantime. My cost is 35k for a nice condo, A property in B+++ hood worth 132k. Anyone ever attempt such an unusual play?

thanks,

Matt

[Steve Babiak]

Related links:

http://www.biggerpockets.com/forums/103/topics/587...

http://www.biggerpockets.com/forums/41/topics/6897...