The purpose, ultimately, of buying these notes is to negotiate with the owner for a deed en lieu or friendly foreclosure.

Bad areas are typically the ones that offer a lot of foreclosure opportunities where you can pick them up for 50 to 60 cents on the dollar.Something isn't quite right if you're buying in an area that isn't going to go up in the next 5 years AND you're paying retail for it to boot.If the house will appraise out at 100k, you should be able to buy it for 70k all in (i.e. purchase plus rehab estimate).

I'm new to real estate investment but I'm looking for education and opportunites in the wholeselling, flipping and foreclosure aspect of the business.

If that were not true, we wouldn't need legal action like foreclosure.

Finance as commercial, won't be easy as lenders want eviction/foreclosure protection, but if you bring LTV down enough its financeable.

I purchased a foreclosure that looked great, but had lots of air fresheners all over the house.

I think you need to be careful approaching or helping people facing foreclosures.

If not, I'd think about giving it to the lender (deed in lieu of foreclosure), unless there's an estate the lender could come after.

The flow of payments is first to you, then you assign payments, you can the change servicers and re-assign payments, in default or foreclosure you can change the Trustee and payment reverts back to the original address.

Came across a property thats going into auction Tuesday from a pre foreclosure.