Wholesale foreclosures. How to?

[Curran Jewell]

Is pre foreclosures and forclosures a good route for beginner wholesalers?

[Tom S.]

@Curran Jewell @Ben Brown  Generally not, IMO.  For pre-foreclosures the sellers may have rights or there may be local laws against it, especially if you can't perform. In other words, you tie up a property for 2 months and can't sell it, and now the owner is a further two months behind on payments, plus penalties, attorney fees, etc.

Foreclosures are even tougher, because once the bank takes possession, they'll use their in-house real estate agent to list it on the MLS, for the highest possible price. This of course is the opposite of what you need to do as a wholesaler.

Your best value is to find off the market deals.