Has Anyone Done Preforclosure Wholesaling?

[Dennis Wren]

I’m new to investing and have read a bunch about helping distressed owners. I want to know does anyone have experience with buying properties in pre-forclosure to “wholesale” them ?

P.S. the lawyer i spoke with described this procedure as short-sale but I have learned of a different procedure when it comes to short-sales.

[Lydia R.]

@Dennis Wren Preforeclosures and short sales are two different things. I would caution you against trying to wholesale preforeclosures as a newbie. There are a lot of moving parts and a lot of specialized knowledge you need to have in order to successfully help homeowners in foreclosure. Also, there is a huge misconception that these people are desperate to sell. The majority of people in foreclosure desperately want to keep their homes and typically wait until the last possible moment before asking for help. Maybe start with people who want to sell and work your way up after you get some experience.