Hi All,I am gathering data on default notices, running numbers and trying to understand/evaluate what might be an opportunity in the pre-foreclosure arena.How can it be that some loans are maybe only a 3rd of what the market value is?

You will also notice Joshua Dorkin adds a personal touch not found on other forums.

Do you find that figuring out that stuff yourself is a waste of time or do you go ahead and trust the seller on points like that?

I'm new and noticed a couple people had "under investigation" listed next to their user name.

If you bank has filed a "notice of default", or whatever its called in your area, you've probably had numerous phone calls, letters, or people knocking on your door already.If you do try a sale leaseback like you describe, I'd recommend you do it with someone you don't care to stay friends with.

Knowing ahead of time and sending them a list may work but you'd be out of pocket for the upfront appraisal cost.I know of several hard money lenders that may work, some with very little qualifications and a couple with income/asset requirements?

When the man handed me the application, I noticed that the woman's name was nowhere to be found.

Originally posted by "MikeOH":In addition, while you are waiting for that small percentage of people with bad credit but a big pile of cash to show up for the option premium and security deposit, you could be renting the property.Hi Mike,I have noticed in a few different posts that you seem to have a somewhat jaded view of option deals.

doesn't make sense to save the $1080 by paying an additional $5500 upfront (thats 20% return vs a 5% I would get from interest earned on a $5500 siting in the bank, so I am ahead 15% a year)..lets assume I will have enough funds to keep with the possible business pace to rapidly build my porfolio of rentals...please experts ...help me out.Thank You

So, for example, I know if you were to use the standard Colorado Real Estate Board purchase contract to directly buy a house from someone after they had been served with the "Notice of Election and Demand" (NOD in most places) you would be in violation of the Colorado Foreclosure Protection Act, and would be subject to criminal penalties including prison.