pre-foreclosure options w/ or w/o equity
Can someone recommend specific reading/info. regarding learning the options available.... step by step... for approaching and processing a deal w/ the owner prior to foreclosure...in reading these posts there seem to be a number of options, but in the books I have read/research done, the material is very vague once you locate the owner...Thanks for your input!
buy a few courses and books. Ever state is different which is why the materials are usually vague. I learned a lot by taking a real estate attorney out for lunch. He has helped me on a few things, and doesn't mind some "conceptual" questions.
Good luck
tlsargent,
You will need to read as much FREE information here in TCI and/or read as many books from the library as possible. You need to get an understanding of how the foreclosure process works in your county/state. Each state has a different foreclosure process and each county handles foreclosures differently. Concerning the options when dealing with foreclosures, you have to decide that. That is why you should always have an entrance and exit strategy for each property. Every property will work in a different way, but you have to decide whether you want to rent it, sell it, live in it, lease/option it, flip it, etc.
I will PM you a good book to read with examples of foreclosure investing in it. I do not want to incidentally advertise it. I think it's about $20-$30, but the examples are very good. Get reading...
Tanya