I've never done foreclosures, but from what I've heard, they're not good. 

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

I’m still learning myself, but I’ve found that connecting with other investors and figuring out which areas of the market to focus on (like distressed properties or foreclosures) can make all the difference.Are you currently looking to jump back into investing, or are you exploring different strategies at this point?

If you foreclose and take it back then you can resell it later but if you are owed $25,000 and it sells at foreclosure sale for $40,000 you don't get paid $40k.

- My first thought is offering cash, but the home owner would most likely just let it go to foreclosure because of how low the offer would be. - My second thought is offering some cash and taking over the loan - there are no liens on the property yet.

For foreclosures here in North Carolina, there is a certain amount of time that you can have a letter posted on their front door.

I mean I did a ton of foreclosure rescue in my day so ia m not trying to be a hypocrite . 

They give the same $12k in closing costs to new buyer, $24k in realtor commissions, tack on say $4k in late fees, foreclosure costs, etc etc etc  so they “net” $360k.

These are done between the buyer (you) and Seller.The situation that is most common to find these properties are in a foreclosure proceeding, or pre-foreclosure. 

I’ve been investing for almost 3 months now, and have just started cold calling my call list of pre foreclosures aka I don’t have any properties yet.