Posted by Natalie-VA on October 06, 2005 at 16:19:31:
Paisley,
I have done plenty of door knocking. It can be discouraging and dangerous. People who are going into foreclosure are not happy people. It can also be lucrative.
I don’t think many wholsalers will be interested in deals at 85% to 90% FMV. They are going to want a much bigger spread.
I will leave your other questions for the experienced wholesalers to respond to.
–Natalie
? Birddogging on Pre Tax/Trustee Sales? - Posted by Paisley WA
Posted by Paisley WA on October 05, 2005 at 01:11:52:
I was thinking about researching pending trustee sales with substantial equity. Then getting it in a pre-sale contract then assign to cash, wholesale buyers. I have easily found homes 85% to 90% FMV.
What happens in most cases when you knock on their door, asking/offering to buy their home?
Would busy wholesale buyers need a birddog to put all this info together and /or get it in contract or do most do it themselves?
Is there stiff competition in this market?? Or less? Do “All Cash” buyers do this? Please elaborate on the pros and cons.
What are some of the problems with this method? I know a title search is needed to find other leins…
I know each state is different with their cure dates, redenption periods, etc–
Thanks for all responses!!
Paisley WA
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