Question

I’ve been reading alot about buying pre-foreclosures but have seen alot of mixed opinions on how to finance the transaction… for instance Thomas Lucier says don’t do Sub-to’s, David Conti says they’re the only way to go… what do you guys think for someone just getting started in foreclosures???

Howdy tjd0427:

Do them any way you can where there is equity. if you have the money to cure and fix and hold and resell why pay off the mortgage and pay that much in hard money loans or tie up that much cash into the deal. If all you have is hard money lenders then pay the loan off. It will take sweeter deals because of the increased costs associated witrh the new loan.