Updated over 7 years ago on . Most recent reply
Buying notes just to foreclosure on them
Would it be a smart strategy to buy NPN or defaulted mortgages just to foreclose on them for profit . Is this a good strategy.
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Bob Malecki
#4 Tax Liens & Mortgage Notes Contributor
#4 Tax Liens & Mortgage Notes Contributor
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- Kingston, WA
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Bob Malecki#4 Tax Liens & Mortgage Notes Contributor
#4 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
Well, well, buying NPLs just to foreclose is a bit predatory unless the house is vacant. Even then, you have to deal with the borrower or his / her attorney which can be time-consuming and expensive . So don't think that just because you can foreclose on a home to take it as a rental or Fix and Flip you're getting a great deal. If you plan to do this with occupied properties as a business model you may want to check your moral compass!