I'm working on my REI education right now, and have to say Thank you to everyone who shares their thoughts and experiences on these threads and podcasts, incredibly insightful.I completed my first rehab this year of my girlfriends house that we just put up for sale, and purchased my own home as a foreclosure a few years back, so I've had some related experiences.Would definitely be interested in meeting with others in this area to expand our networks.

Hey Guys, I have found a vacant property in a great neighborhood that is in foreclosure.

I've been trying to find out who takes the loss on a foreclosure.

I recently came across a foreclosure in a college neighborhood I am familiar with, that has a great rental market, especially since this house is in a great area of the town.

This right is present in all foreclosures and expires either pre or post sheriff/trustee auction depending on the state.

And unless you've got a ton of cash to finance these opportunities, your best bet in such a short funding timeframe is to obtain a hard money loan.In many cases, particularly in the case of short sales or foreclosures that banks are looking to liquidate before years end, sellers want to move quickly.

@Paul Timmins, great advice but I live in a small town but I will find my niche, I think I am going to try pre-foreclosures...

I didnt sell anything but foreclosures for over two years when short sales got hot.

So it seems that my sellers contacted wells fargo and told them about the sub2 deal based on their lawyer telling them they had to, so then wells fargo proceeded to tell them that it was illegal and they werent allowed to do it, so they agreed to do a deed in lieu of foreclosure.

Avoid foreclosure if buyer defaults, makes sense.