One of the very first Real Estate Deals I ever completed with my mentor netted us just under $40K, and came from a lead that most “Investors” would have tossed into the trash can.
The Seller contacted us with a house worth approximately $100K, with 3 mortgages on it, all in default: the 1st for around $35K, the 2nd around $30K, the 3rd also around $30k. Doesn’t smell like a deal so far, does it?
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