Beginner Investor in Tacoma Washington (Foreclosure)

[Lourene Gibson]

Hello,

We are new investor's in Tacoma Washington. We are wanting to get involved with flipping homes wholesale. We want to learn techniques that can get us involved with homes with equity and minimal rehab. I have a neighbor who is going to be foreclosed on December 16th. She is behind in the payments around $70,000. The balance on the loan is around $266,000. The value of the home is around $360,000. Save this foreclosure from happening and profit at the same time?

[Natalie Kolodij]

Originally posted by @Mason Keeler:

266k + 70k= 336k doesn't seem like there's much room for profit. Especially if there's any work that needs to be done. Or am I missing something? (I'm very new as well)

 The Balance she owes includes the payments she hasn't made. 

That's just the minimum that would have to be paid back immediately to defer the foreclosure. No need/reason to add them.