What States Allow You To Wholesale PreForeclosures?

2 Replies

Hello,

I am a real estate investor looking to change up his approach & type of properties that I go after. Here in MD I’ve been made aware of the PHIFA act which basically makes it illegal to approach owners in preforeclosure.

So my questions is which statuses CAN you wholesale preforeclosures?! 

 

 

Originally posted by @Dee Browning :

Hello,

I am a real estate investor looking to change up his approach & type of properties that I go after. Here in MD I’ve been made aware of the PHIFA act which basically makes it illegal to approach owners in preforeclosure.

So my questions is which statuses CAN you wholesale preforeclosures?! 

Wholesaling preforeclosures is far riskier legally than you are aware. So, save your first $20k in profit for future legal fees. If you must wholesale and in some places it is legal when done properly, ethically and legally then consider focusing on houses that don't do well on the MLS. Badly maintained, on a very busy street, odd size or shape, etc.