I personally invest in the North Dallas area (Prosper/Celina) where there is lots of growth in homes with nice lots.

Hi, pre foreclosure in all of its permutations, before the bank sends Notice of Default (NOD) or efter which is state even county dependant but often starts a 4 week clock till the trustee auction are the 2nd most difficult deal scenario and IMHO only experienced investors should bother, the 1st most difficult deal scenario are bidding at the court house steps on lord only knows what is being auctioned off sometimes even 2nd mortgages, you need to do so much home work to attempt to reduce your risk at the court house steps...Pre foreclosure no one talks about these issues, always about the nice sounding stuff like "motivated seller" get a good deal etc etc both are usually not the case.- 95% of folks in pre or post NOD want to stay in their house, keep their house inspite of them 100% will loose the house at the auction. 

Hello @Joe Crupi, nice to meet you.

My mom lives in a nice house that she has paid off.

Nice work Glenn ;)

Its always nice to be prepared.

@Joel Florek - Nice, I like how you're thinking about it. 

With a teaching and leadership backgroud, I have an interest to help others write their programs or review their presentations to address every learning style.

Another nice bonus of using this as a funding source is no closing costs, big help on the front end.Obviously, if all goes relatively well, the plan would be to hold these properties as rentals and refi at some point down the road when rates on mortgages drops back down a bit, whenever that may be.

That means you have enough money to do these safely.I’m sure he's an enthusiastic and nice guy, most of his ilk are.