Hey guys, Ive been wanting to get into preforclosure investing but I know there are some special laws set in place in CA to protect distressed sellers from “preadetory investors” (whether they are preadetory or not) and and was wondering what you guys do to cover your a$$es while investing in these situations? I do not by any means plan on ripping anyone off, just want to be safe so I dont lose my own shirt. Is there a book out there which deals specifically w/ CA?
If you are going to do equity purchases become intimate with California Civil Code section 1695: http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=civ&codebody=1695
Also 2495 on foreclosure consultants.
I highly recommend Ward Hanigan’s training: http://www.foreclosureforum.com/index.html and he has some very useful forms regarding equity purchases on his site.