Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.
Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…
I bet Bruce (and I would imagine he has investors) is doing really well.
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paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.
