Pre-Foreclosures

[Christy Glenn]

Hello, all, I have been watching some properties going into pre-foreclosure in my areas of interest. Some have a auction date set and some have already passed the auction date. They are just sitting there. I'm just wondering how on the world I can purchase or acquire these properties at this process before others come running in or they get put on the market. My company is fairly new to real estate investing, therefore, we are not familiar with the process. I do realize that it does take some time after auction for the home to come up for sale. Any words of insight or suggestions? One thing that may help or hinder is I just passed my EXAM but have to find a investor friendly broker. Thanks!

[Greg Felt]

If you buy the mortgage on the property, then you're the bank. Then you're the person with all the answers. And you can buy them cheaper than you can an REO property.