• Roughly 1,000 active foreclosures right now. In 2008-2009 there were 50,000. 

• There are no indications of a foreclosure rush coming.

• Two main reasons that homes are going to Auction are: Divorce, seller didn’t want to sell.

• Courthouse steps is not the best place to purchase a discounted home. There are many professionals that drive the price up and the competition is high.

• Knocking on the door or cold calling is the best way to find a deeply discounted deal

• Banks that foreclose on a property are required to do a 6 month workout process where they try to work something out with the owner. They also have the ability to postpone sale and drag out the process for longer.

• Companies like Chriss charge $1,500 to have them bid for you at the courthouse steps. This is only paid on a successful bid.

• If you purchase one the money is due by pm the next day.

• When purchasing a property that is occupied it is roughly a 6-8 week process to get people removed from the home.

• It costs $2,500 to start the foreclosure process and only $30 to postpone

Hard Money

• Requires 15% down 

• $700 fee to the lender

• 30 day minimum loan.

• Will Loan any amount 

Wholesale deals are very shopped. They are being sent out to a ton of investors and wholesalers all at the same time so it is difficult to get a great deal.