Pre-foreclosures in MD

[Jonathan Rundlett]

I am in Montgomery County MD and am interested in helping people out that are facing foreclosure in MD. I have come to learn that MD has some very strict rules for "Foreclosure Consultants" and "Foreclosure Purchasers". According to the state law, if you obtain a property through a reconveyance and sell the property within 18 months, you are required to pay the original homeowner 82% of your net proceeds!

With that in mind, I am contemplating finding someone that is facing foreclosure and is interested in staying their home and doing a purchase "subject to" and doing a lease option to buy back to them for 18 months.

Does anyone else focus on pre-foreclosures in MD? What have you found to be the best method to obtain a good profit in this area of investing?

Thanks for any suggestions!

Jonathan