can a person do pre-foreclosers no money down

[Reginald Hart]

I just hooked up with and investor and he told me to focus on pre foreclosers but how do i get them with money dowm. he told me to just get them and he will close the deal for me. help i dont want to make the mistake and do all the work and lose out on a good deal

[Bryan L.]

There are many ways to work pre-foreclosures with no money down - and protecting your interests at the same time. You could buy the house subject-to the existing mortgage, getting the deed, and then sell it to your other investor (I'll just call him Joe). Or, you could get the house under contract and assign your contract to Joe for an assignment fee. Or, you could get an option contract on the house and then assign your option to Joe for a fee. Or, you could buy it with a land-contract and then sell it to Joe (or assign your land-contract).

I'll give you one better than that. I once bought a house (it was an estate sale, not a pre-foreclosure) and I received a fairly nice check written out to me at closing. The check came from my bank. They actually financed it for more than I paid for it so that I could have money for repairs. But that was back before the Lehman Brothers shtf.