Working with Bankruptcy Trustees?

[Rebecca Morrell]

Hi everyone,

For the past 2+ years I have been researching real estate investment based on one idea which I thought could have a high yield in a small amount of time: a transaction in which I could buy a property from a homeowner who has filed bankruptcy through a Chapter 11 Trustee, and flip it immediately.

After not having successful luck contacting the local Trustee in my area (wrote 2 e-mails, never received a response) I had given up on the idea that this was even possible... Until tonight!

I just read a story from a member on here whose first sale was exactly this type: a Trustee had received his mailer, called him and offered him a properrty for $40k which he immediately flipped.

Has anyone else had luck working with Trustees, and can reguler bankruptcy attorneys liquidate property the same way?

Also, I assume that acquiring a property this way would relieve a lot of hassle in the way of title work, since the Trustee would also be able to disclose any liens that are on the property... Does anyone know if this is true?

I know now that one of my biggest problems in my past e-mails was that I was not forward and/or "ready, willing, and able" enough; I am trying to line up private financing right now so that the next time I make contact I have cash in hand and I am ready to buy then and there.

Thanks so much for any help, I'd love to hear what others have experienced!