is it possible to get a foreclosed home with no money down if your planning to flip it ?

Asked by Claudia Audia, 26505 Mon Oct 29, 2007

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Mike Kelly A…, Agent, Santa Rosa, CA
Mon Oct 29, 2007
Claudia, I doubt if any Lender who NOW owns a property "post-foreclosure" would be willing to sell to an investor with 100% financing! That' what got them all into this mess to begin with!!! Especially with “Flipping"!! You're assuming they are going to sell to you at a price allowing equity for "Flipping". The statistics on Lender's selling REO homes in relationship to market price is very high.
You should form an investment group, raise a bunch of cash, and then go buy these properties at Foreclosure THEN you can flip them as this is not silly at all!! You've got the right idea but procedurally you're a bit confused!
2 votes
Infinity Rea…, , Saratoga, CA
Mon Oct 29, 2007
99% i would say no. But there are times when you are able to get a house financed with hard money if an investor sees enough future value in the property.
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