Posted by Lyal on February 18, 2005 at 06:48:55:
Alex,
I would be nice if you could do what you want but if it were that easy everyone would be doing it.
Think about it… brand new house with a tax lien. There would be at least one mortgage against it and they would pay the any taxes due so it wont’ be going to sale.
As far as foreclosures. New house would have very little equity to begin with. The first would be foreclosing and when you add in all the legal costs, it would be upside down (more owed than it’s worth). And when they go to FC sale, they’re rarely in “mint” condition.
Forget the seminar buzz. Do some more reading and concentrate on learning how to find motivated sellers instead of houses.
All the best, Lyal