Pre-Foreclosure Wholesale Wesley Chapel, FL

[Regis M Burdier]

Need some advice from someone who has more experience as I am just starting out in REI. I found a SFH in a desirable neighborhood, 30 minutes north of Tampa, that is in the pre-foreclosure process. In this case who am I allowed to approach/contact to make an offer, the owner, the foreclosure attorney or the listing agent? Also I am looking for a buyer to work with me on this property. It is in a gated community, club house with pool and gym, schools (elementary, middle, and high school) are all within a 5-mile radius. This could be a great investment for a rental. Thanks for any information anyone can provide, especially if anyone is interested.

[Account Closed]

Originally posted by @Michael Valerio:

I've experienced that some agents who work short sales are fine with allowing the contract to be assignable.  However, the banks typically are not.  You may need to simultaneously close it, which of course, you'll need your own funds to close the front side.  Also, find out if the bank is B of A.  There is a deed restriction on their short sales that will not allow transfer of title for 60 days... It can be worked, but it will not be the simplest transaction.

Starting a Dummy LLC and then selling the LLC should take care of that issue.