Zom bie foreclosures

[Brian Hastings]

Hey, I am able to purchase a few houses that have been foreclosed on a few years back or have not been foreclosed on and have been sitting for a few years. I'd be purchasing the redemption companies that the original owners qc'ed to company. Basically the redem. co. litigates the mortgage, rents property out in the meantime and makes a deal with lender. Some are rented and some need 5k to be brought to code, there are mortgages that will come due at some point. They are willing to sell for 3k at 300/month 0% interest.  The owner is older and is having health issues and wants out. 

I have not invested in this area before...It seems I'd be in the position for short sales and or collect rent until litigation ended. My breakeven is about 7 months or so.

Wrapping my brain around this concept, if anyone has any thoughts or experience, I'd appreciate your insight.