Your help is TRULY appreciated!

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Does anyone have any ideas to be able to make money buying a property where there isn't any equity? For instance, someone is going through foreclosure owes 100K and the house is worth about 100K. Can one make money in a situation like this?
Thank you very, very much! smile

Comments(2)

  • tjm52831st March, 2003

    I am new to real estate investment, but I know that you can definitely make money like this only if the house is a pre-foreclosure. If it is a pre, you can go to the lender and offer to pay 50 or 60,000 and see what they say. Many will accept, mainly because it will cost them more to hold onto the property.

  • mel31st March, 2003

    Hello Newinvestor!
    If you go to the search feature in articles and/or forums you and enter "short sale" you will find lots of info on the situation you are speaking of.
    Welcome to TCI!
    Best to you,
    Mel

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