Would this marketing plan work?
I am looking for ways to acquire more properties without using my own money (because I don't have much!). I had an idea of getting information on possible homes/multifamilies in pre-foreclosure status. I can find the owner of the properties and try to track down their residential address. I would then send them a marketing piece explaining how I would be interested in taking the property off their hands for a creative financing situation (maybe a subject-to financing agreement and refinance later somehow). Is this a good idea? Does anyone else do this? What are some things I am naïve about with this strategy?