Buy From Owners on Auction List

[Zack Kosenka]

Hello and thank you for taking the time to read this. 

I want to buy a home and rent it out but the current market is too rich for my savings. With 20% down and another 10k for repairs and updates, I would need about 10k more than I already have, which will set me back a few years. 

This forced me to consider alternatives to MLS listed homes for sale and led me to my county auctions. Again, I don't have the money to outright purchase the homes, but I was thinking about contacting the owners on the list to work out some sort of FSBO deal.

If anyone has any experience with this strategy I would love to hear about it. 

Thanks, 

Zack

[Rene Owczarski]

@Zack Kosenka YouTube has a ton of video about subject to, just search for "sub2" or "subject to" or "subto" and they'll pop up. And then within BP there is a ton of free info in the forums, there is the Innovative Strategies forum (https://www.biggerpockets.com/...) or Rent to Own a.k.a. Lease Purchase, Lease Options forum (https://www.biggerpockets.com/...) or General Foreclosure & Pre-Foreclosure Forums (https://www.biggerpockets.com/...) or Get Foreclosure Help - Stop Foreclosure Forum (https://www.biggerpockets.com/...). So I'd start with the free stuff, just to get you up to speed on the foreclosure process/timeline for you area, before you call an attorney. Then when you think you have a deal, post in the forums or call an attorney if you stuck on something about your deal before locking it up.