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Updated over 6 years ago on . Most recent reply

Travis Bryant's profile image
Travis Bryant's profile image
Travis Bryant
  • Real Estate Agent
  • from Sandy, UT
  • Member since Aug 30, 2018
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Travis Bryant's profile image
Travis Bryant's profile image
Travis Bryant
  • Real Estate Agent
  • from Sandy, UT
  • Member since Aug 30, 2018
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Travis Bryant
  • Real Estate Agent
  • Sandy, UT
3
Votes |
19
Posts
Foreclosures

Can I buy the note of a foreclosing home?

Travis Bryant
  • Real Estate Agent
  • Sandy, UT
Posted

Hello BP! Is it possible to buy a mortgage note before foreclosure? Looking at a short sale ending this month and I was curious if there was a strategy for note investing. Salt lake City.

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Brian Ploszay's profile image
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Brian Ploszay
  • Investor
  • from Chicago, ILLINOIS
  • Member since Oct 28, 2009
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Brian Ploszay's profile image
Brian Ploszay's profile image
Brian Ploszay
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  • from Chicago, ILLINOIS
  • Member since Oct 28, 2009
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Brian Ploszay
  • Investor
  • Chicago, IL
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Brian Ploszay
  • Investor
  • Chicago, IL
Replied

I bought lots of notes.  It is so much more complicated than buying normal real estate.  Buying standards real estate comes with title insurance.  With a note you need to know legal, title and lots of technical issues.  I bet there is a few books for sale.  And some resources on bigger pockets.  Educate yourself.  If you are a beginner in real estate, I highly suggest not doing this.

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