The seller breached the contract and you have a cause of action against him.

It's something I have been thinking about getting into for a few years but I never took action to get started.

HiIf I buy a foreclosure from the second position for say $200,000, subject to first mortgage of lets say $300,000, and then the first position forecloses - my understanding is it forecloses the original owner, and not me.At this point,  can I pay the lender their $300,000 to prevent foreclosure?

Pros: low maintenance, low price tag, positive cashflowCons: rents capped at 700/mn, not going to bring in rock star tenants, not the most desirable areaThanks for the help!

I am still a relatively new investor and I have been studying the BRRRR strategy and wanting to take action.

Starting the eviction process will either get them to take action or it won't.

I've gotten so much positive feedback from the summit - thank you for joining us - and thank you for the glowing review.

Chances are extremely high that the Paul Davis, Servpro's, and Service Master's, etc. in your area do program work and are not independent.If I was in your position, I'd hire 2 independent firms who are certified by the IICRC in Fire & Smoke Restoration (FSRT certification) but ideally, have a Master Fire & Smoke Restoration certification.

I've heard various rumors, bu I'm not in the best position (cash available, lower end credit score) to buy but I have a year to get everything in order.

Because I started my own business and had to show two years of positive income within the business my wife and I had to hold off on buying our first house.