(When I was in my 20's - I am now 77 years old, I did a ton of equity based foreclosures.) 6. offer to partner with the sale and liquidation of the property for a fee or equity position.Understand that as a foreclosure buyer - you need to first try to solve the owners problem  by giving suggestions to him - how can you help him, what suggestions can you give that will help him out.

They really should have renters' insurance that would cover some of those expenses.

So, you should reach out to some local land banks in your area (google search that term specifically) and see if any of them offer cash out loans on land. 

To win at pre-foreclosure you just need to offer more than they owe and the bank will be happy.

I had 10x fewer headaches but no more rent in my pocket.Based on what I have seen with deals being offered in the multifamily space (5+) units.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

What do I need to bring to the table, and what are you offering to pique my interest?

Being appraisers, we are familiar with estimating "cost to cure" of deficiencies, and we know useful life of short lived items so we can build seller credits into our offers that will help mitigate monthly costs to us for reserves.We are going to take it slow and steady, as I said, with an eye on returns that may not be spectacular but still rival the stock market in a sector of the economy we know well.Thanks for the encouragement @Dave Meyer!!

As we step into April 2024, the market is alive with possibilities, offering exciting opportunities for both buyers and sellers.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!