Door Knocking Pre-Foreclosures and Cash Offers (Oregon)

[Hanna Brown]

Hello All! I am interested in acquiring pre foreclosures to buy and hold as rental properties. I am not a licensed RE agent or attorney, just an investor looking to increase my portfolio holdings. My original plan was to door-knock at potential homes that have received NODs and make cash offers to the owners.

After reviewing some previous BP threads, it seems this is rather tricky legally, since I am not a Foreclosure Consultant. Is there a way for a person like me to legally acquire property in this manner? I would plan to hold the properties longer than 24 months, so as to avoid the 80% equity share. I would avoid renting to the owners in default, since I learned that is also legally fraught. What other considerations are there in this strategy? Is it potentially feasible?  Anybody successfully pulled this off? Would love to hear about your experiences and insights.