Pre Foreclosure SFR House in Lakewood

[Huy Nguyen]

I found this property that is in pre foreclosure. The default amount is $11,000 and they got the notice in march. The total mortgage is $100,000. The total ARV for the house is $500,000 maybe more. I looked at their sales history and they bought the house in 1999 for 200,000. i think i can buy it for 400,000.

I was curious if anybody here wanted to partner up 50/50. The house is in Lakewood, CA where i live and we can figure the best plan of action. but i am thinking of flipping it.

Also,  I have several leads with the same type of situation if this doesn't work out.

PM if you are interested.