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.