Pre Foreclosure Investment

[Alfred Harris]

Good Morning BP family, I was wondering has anyone bought a home in pre Foreclosure. What was your strategy and what was the outcome?

[Curt Smith]

Hi Alfred, pre forclosure is the most difficult deal scenario I know of.   Within the 4 week time from the notice of auction (to the auction 4 weeks later) you need to market to everyone who's had their head in the sand, to find one who says 2 "yeses": yes I will sell before the auction date, and hardest yes I will move out BEFORE auction date.  Then you need to pull out of pocket the arears and expenses all on a head in the sands seller who says 2 yeses just to get you to bail them out...  :)   1 in a large number turn out to be deals, and each is a complicated close, including $$$$ put out for paying the arears and banks expenses.

The local REIA I ended up choosing from the many local REIAs (groups of experienced investors) is GaReia they offered training I took, http://gareia.com/ultimate-foreclosure-formula/  I think you can still contact the leader, Darlene, and get into her on-going group on Pre foreclosure.