Basically they purchase a home or property that is far behind in taxes, then they let it go to a sale rolling the dice that it will bring more at the sale then what is owed on it.

The 2 family was purchased cash and I used my credit cards to bring up to date and to renovate.

Lani brings up a good point.

Well MikeOh youre gonna have to detail those expenses to me, cuz i really dont see where u can find a building thats gonna cost 185000$ and bring in 3700 a month (44400$ a year!)

Things that help people understand where you are coming from and what you bring to the conversation.John Corey

That would get you out of it without having to bring money to the table or spending money on the repairs.

there's;Spectrum Mailing ListsVendorSeek.comAmeriListMelissa DataSalesVantage advertisingMediaSpadeProspects Influential Incto name a few...who do you use, why, and what lists bring you the most credible leads?

what's you're favorite type? what are all the types you use (bandit signs, bird dogs/ant farm, newspaper add, direct mail, etc)?

John Corey brings up what I think is the heart of the problem when refinancing any rehab project, regardless of how you purchased the property.

If there are not enough repairs to bring the price down, i look at the comps to see if there are enough low ones to justify my asking price.