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Strategies & Market Trends : SiliconInvestor All Stars Forum
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To: John Vosilla who wrote (947)7/7/2007 10:23:43 AM
From: CapitalistHogg™Read Replies (3) of 1718
 
Thanks!

a friend of mine approached me the other day expressing interest in forming a partnership explicitly to find and purchase distressed property.

neither one of us have much experience in RE, however, we do know the market (Minneapolis) very well.

it was my idea to try and find homeowners who are perhaps in financial straits, but who have not yet gone into foreclosure and arrange a mutually beneficial agreement between us. i've heard that trying to purchase property that has already been foreclosed was a real pain in the arse and that getting property before foreclosure was the way to go.
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