Preforeclosure with EQUITY
What's the best way to approach a homeowner in Preforeclosure where there's a lot of equity involved. I don't have a lot of cash and I'm not sure how to present an offer where I make some profit and the homeowners is able to get some of their equity out. Could some of you seasoned veterans Please Help!!!
Thanks
latestarter,
You may want to read these articles written by Bill Young called Using Financial Judo Series (Part 1 of 2) and Using Financial Judo Series (Part 2 of 2). Read these two articles together and carefully.
The articles above will help show you how to convince the seller there is not as much equity in the home than they thought. If you click on "Articles" and "Article Topics", then you will find a section called "Squeezing More Profit". That is where the articles are located and you can find more articles under that subheading. Good luck. Let us know how it goes.
Tanya