Posted by rocky on January 03, 2003 at 20:50:45:
Richard, yes, there is something you can do with this. First, you need him to sign an authorization to release his financial info to you so you can discuss his situation with his lender. Second, you need to arrange to get a home inspection done, look at the prop yourself, get an itemized repair cost estimate, and an after market value appraisal. Third, look up Ron Starr’s article on foreclosure investing and read it at least two times to make sure you know what you may be getting into (it is either in the how to articles or the money making ideas articles.) Fourth, take your deal to an investor and offer it to him or her for a price. If you can’t find an investor, or if you can’t afford this stuff, send me an email and I’ll see what I can do.
Good luck and good investing.