Foreclosure Deals???
Ok, i've been going through some NOD listings for foreclosures. I've found
a couple with the following data:
Ex1:
Loan: 455K, no other liens
Back Payments: 15K
Comps: 775-950K
Ex:2
2nd House:
Loan: 350K, no other liens
Back Payments: 12K
Comps: 675K-900K
How would I go about flipping such deals to investors? Would a subto deal be more appropriate? Would I be able to split the equity between the seller and myself? How would you guys go about structuring such deals?
The high numbers are due to me being in Southern California.
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