Pre-Foreclosure Deal Structuring

[Vito A Carlin]

I used to flip houses (back-in-the-day) from 2004 to 2008. I'm getting ready to get back into the investment game and looking for some help getting educated before launch (I know A LOT has changed). I'm interested in investing in pre-foreclosures. 

Can you advise what typical strategies and/or what options are available to an investor when negotiating pre-foreclosure deals with the owner? 

• Areas to be aware of (cautions of)?
• How do you get them to move out? 
• What paperwork should I have a RE attorney draft up for me? 
• Exit strategies? 

I'm in Southern California. I paid for a pre-foreclosure list from ListSource with the following criteria: owner's having 30% to 80% equity, owner-occupied, and loan payments made for at least ten years.

My objective is to really help people out of a bad situation and turn a profit at the same time (win-win).  

Thank you!