Many homes in pre-foreclosure have a 1st mortgage balance at or above what the home is worth, making it necessary to find another way in so as to create a workable margin.

If it's his primary home that is behind, it's still a workable deal, but keep your payment to him in connection with your acquisition, don't catch up another payment through an option on the subject, it depends on how it is worded.As to doing the deal, I have three pretty simple methods I use.

Also, if your using your cash instead of flash funding, then you also have a workable deal.

You need to get this home at about 120k to make it a workable deal.

Adding a constraint that it has to be a place you want to live distorts the math.Now, a workable strategy for some people is to buy a dumpy house, move in, fix it up over the course of two years and sell it.

How can you legislate someone into hiring tons of employees to make such a law workable?

Must have some handyman skills and knowledge of the various types of work, evaluating the quality of the work, ability to negotiate with contractors and supervise them, etc.

If we can put forth an alternative "workable" solution that meets the need of all parties and takes it to closing then we call that a true win-win-win outcome.

Tell me if this all makes sense for buying/selling foreclosures from auction:County rules: Drive by appraisals Deposit due at end of auction Can bid for other ppl Name for deed due at end of auction Full amount due 50-60 days later Starting bid 2/3 of appraisal value Look through Sheriff's auction listings to find workable properties.

I am excited to learn and grow in this process and look forward to forming many workable relationships!