Anyone work the Ithaca, NY area ? Might have a lead for you

- SFH 2/2 - 1,230 Sqft - Clean, outdated / great fix & flip - Potential Market Rent: $3,000 / Monthly - Free and Clear Title Asking Price $299,900 Text 954-953-3527 for more info!

Hi one of the memebers asked a question around how we can help foreclosures with and I thought this would be valuable for other members as well The solutions for foreclosure leads you can do 3 strategies: 1.cash offer - give them an offer cash, stop the sale and either wholesale it or fix and flip or keep it in your portfolio for this strategyy you need equity because you need it low enough for a cash offer to work 2.creative finance : subject to/lease option- you can also bring the payments current, or do a loan modification, and keep the property and take over payments 3.Collect the surplus after the sale, when the property goes to auction and there is equity at the foreclosure sale, the bidders offer more than what is owed, you can present the seller an option where you can help them collect that difference after foreclosure happens it's called a surplus With option 1 you are reselling it so or keeping it and need to buy at a discount so you need equity, for option 2 you are keeping it as a long term rental so equity is not as important you are focused on cash flow, option 3 you need equity. As far as timeline, 30 days out still gives you time to do something but the closer you get to the sale date the tougher it is, we have helped sellers a week out and even a day before the sale happens but it's tougher when you get close to the date, we have to stop the sale and file a motion with the judge and depending on the judge and the case they can approve it or deny it. So waiting last minute isn't a good option, but we can still try it. If it does go into the sale and there is equity option 3 the surplus is the only ootino you have.