Forclosure and Flip? - Posted by Rick Carrigan

Posted by Walt on July 15, 2002 at 20:16:35:

Don’t talk to the lawyers, talk to the present owner. If he signs a contract with you and you have a buyer that is pre-qualified, the lawyers will usually give you time to complete the deal before they put it on the auction. As far as your buyers, there are some other tricks to use to get them done within certain limits. e-mail me.

Forclosure and Flip? - Posted by Rick Carrigan

Posted by Rick Carrigan on July 15, 2002 at 08:08:02:

I currently have a home that apprasied for 85,000 in 1998 that is being foreclosed on. I should be able to buy for around 70,000. The homes in the area are selling for 95,000 - 115,000. There would be some repair work but not much. I have located a buyer that would like to buy, but his credit is bad. He makes a good income but has no money to put down. He has a girl friend that has better credit than he does. The home has been turned over to lawyers for foreclosure and they wont talk to me. I would like to buy home, fix it up, and sell it to other individual. I have the cash available to finance the home, but would like to flip the mortgage. Any help you can provide will be appreciated.