John L Scott - Buying Investment Property

Real Estate Investing - Buying Pre-Foreclosures?
Written By Lou Castillo

So you wanna buy pre-foreclosures? or at the courthouse steps? So many people ask us about this. Heres our 30 second seminar on it. If youre going to buy PRE-foreclosures--after the seller is behind on her payments, but before the lenders auction date-then there are some pros and cons to consider.

Pros: 1) youve got a good possibility of buying the house subject-to the loan from a very motivated seller who just wants out. 2) you dont need to do any marketing, just read the foreclosure notices (more on this later), pull some comps and do drive-bys. 3) There are several *thousand* foreclosures published each month, in the greater Atlanta area-plenty to choose from.

Cons: 1) Youve only go...
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