.: Foreclosures usually have a lot of "hair" that goes with them.

Usually between 5-7%.

If curious, here are the last two: Jan 2023: Multifamily Real Estate is At Risk of CrashingFeb 2024: Multifamily is at High Risk of Continuing It's Historic CrashI think that the title for my 2025 analysis (likely Jan/Feb publication will be something more like:Multifamily is Finally Going to Hit Rock Bottom in Q2/Q3 2025 - Get Ready to Buy a LOT of itAs usual, I like to publish my draft thoughts here to get input from key players in the space and these forums, especially folks like @Brian Burke, to see if I am missing any high level areas, before I get into the weeds and look at the data more deeply and regionally. 

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. 

The only major difference is usually prepayment penalties and maybe some obscure, unusual loan terms in certain cases. 

So adding this to my prospecting plan may provide reach to do deals that I may not have had before simply circling the usual watering holes.

They usually give you the first 30 minutes for free so you can explain your case and ask questions.

The spring and summer usually have a shorter leasing time of 15-25 days. 

If things to sideways, the money raiser usually has no leverage or even any authority to fix the problem.

Usually lowering the price would be effective.