From Lease Options to Foreclosures

I’m a full time investor tranisitioning from L/O to foreclosures, and was interested in a begining the right way. I’ve been sucessful in Florida’s market doing co-operative assignments generating around 10k a month and was curious if i could approach foreclosures the same way. However if i wanted to approach this in a conservative way what method do you guys reccomend? Flips or SS? I dont want to risk any of my income since its my only income and my savings isnt part of the picture. I guess my question is can i be sucessful withou using my own money and what are some other ways to fund deals guranteed without using large amounts of your own. any books or software recomended through your members would helpful.

There is a way to do what you are speaking about. I too am in the FLA market and foreclosure flips are almost as extinct as the Woolly Mammoth. Finding a foreclosure to flip requires finding a foreclosure with equity. Very, very rare in most FLA markets these days. To create equity you almost always have to do short sales.

I utilize a Option to Purchase in my short sales combined with a Memorandum of Option to make clear my equitable interest in the property. Most of my transactions end up being simultaneous closes. I do fully fund the front end of the transaction utilizing funds from a private investor and close the second transaction immediately after. I do not even try to do “dry” closings.

Good luck in your transition and contact me with any questions.