After getting contacted by a owner facing foreclosure, what if they would approach the lender, let them know how they are trying to help, their required commission and then ask for approval.

What I will advise you on is when approaching experienced investors, they don't have to tell you anything.

You are talking about their home, not a house.Without going into hours of detailed explanations on the matter, I might just offer you this advice...Approach any homeowner from an emotional standpoint, rather than a business one.Logic is not something high on their priority list right now.

I like the simple and to the point approach.

Approaching any lender with disclosure can be an art, since the intitial reavction will be "you can't do that", but after you explain the details and their options, they will change their tune.

At the time I had 14 or so rentals, about 1/2 of which were NICER, BIGGER, AT LEAST AS GOOD OF NEIGHBORHOODS as where I lived.One day after returning from a round of golf and enjoying a beer or 5 two of my DEADBEAT tenants brought their rent (and late charges) over to me.

In two deals we sold later when a buyer approached us without the property being on the market.

Some of my local developer contacts that brought me business started asking me if I had anyone who would be interested in buying properties at a steep discount.

Who do you approach, how do you make an offer?

Hello there everyone in biggerpockets,Now lets see I need a little advice on what I should do over the next few weeks about a current situation that was brought to my attention!