Investing in Pre-foreclosure Properties.

[Antonio Estrada]

I'm currently trying to find a house to hack, and I've been analyzing many deals, however, there is this one house that is listed as a pre-foreclosure and I'm wondering if any of y'all have any experience in buying in pre-forclosures. What are some things to look out for when buying this type of property? Is it even worth buying this property? It's a four-bedroom house, one bath (I want to do a rent-by-room type house hack and I do plan on adding another bathroom if I do end up buying) According to Zillow, it's been on the market for 320 days, it's listed at $84,851, and Zillow says it has an unpaid balance of $137,015 with the original loan of $184,000 issued back in 2006. I want to know your thoughts on this. Also, how would I even go about submitting an offer? I'm a newbie so the more info the better. Thank you.

[Waylon Zook]

@Antonio Estrada if its a pre foreclosure you need to negotiate with the owner to buy it. Owner needs to sell for what is owed or come up with difference. If property is worth less then what is owed and owner does not have funds to cover difference you need a short sale agent to negotiate with bank.