If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

Hello, Am an older investor seeking help.

As a Florida Real Estate Attorney and Investor, I have seen investors do their best networking with local groups.

Find someone you know, like, and trust, then partner with them on a deal.This doesn't have to be an existing investor.

Many investors if they make a mistake can recover as long as they took risk proportional to their tolerance and income.

Networking with local investors, agents, and property managers will be key to your success.

Hi Dave in Northern, NJ-I am sorry to hear you have a single family rental facing foreclosure.You have it in an LLC and wonder what your options may be to delay foreclosure.Lenders do not want to take properties back and have a nonperforming loan.The best time to work with your lender is as soon as possible but certainly before the sheriff's sale.After the sheriff's sale, there is a redemption period where you can still sell it and the length of time varies from state to state and may depend on if it is vacant (avoid that for a variety of reasons), if tenants have a lease and have rights, or if someone is occupying the property.Working with the lender may not be easy but do not give up.Also, reach out to investors, who buy properties in foreclosure or pre-foreclosure, and see if they would be interested in curing the default and buying the property.To Your Success!

Local Real Estate Investor Associations (REIA's) also are a great place to network and find a mentor or someone to walk you through getting started.

We work with a lot of OOS investors and showings, inspections, and lending can all be done remote very easily. 

I help investors optimize their financial strategy by implementing the Infinite Banking Concept (IBC), finding the best insurance for their properties and cars, and connecting them with legal experts for living trust creation.