Originally Posted by Barry-xlovecam

1. Option to buy the sellers equity before foreclosure.
2. Have the bank (or lender) reverse the interest he received against the principal loaned -- adjust that amount for inflation.
3. Make that lender whole and agree to make you a new loan of 80% of that principal if the numbers work.
4. Lenders want performing loans not foreclosure headaches on the books.

The way this works is the lender walks away from the old loan with no profit or loss.
The lender gets a new loan that is making payments.
You still need front money to pull this off.
You will need to show the money or financial ability to rehab the property and market it or rent (lease) it out.

There is always money to be made in garbagestan but make sure the hooligans cannot steal your copper pipes. You have to board up and check your vacant properties every day. You will still have breakins. Install the plumbing fixtures and water heater in single family homes as they are rented out or just prior to the close of escrow.

Wear work uniforms, slightly worn (but not stinky) while you make deals with renters, homeowners and bankers -- let them think they are getting over on you ;)