How are wholesalers offering to buy homes w/ no equity?

[David Corvin]

I was in the process of going through CL (we buy houses ads), searching for prospective investors to add to my buyers list and I came across one, PeachHomeBuyers dot com, that boasts that it can purchase any home even if the house has no equity and/or is upside down in value. How is this? What's their angle? How do they come out on top in such a deal? I just don't see what they'd want with a property that more is owed on than is worth.

David

[J Scott]

Mortgage wrap or subject to are other possibilities for some properties that will rent well...