So I just got a call from someone I know that decided to invest in a bunch of foreclosures with a bunch of friends (so he says). He has various listings. Anyhow, here is the thing. he called and said they are selling the properties with a 20% down PLUS he would give me an extra 20K? What do you think is the catch? He says he is just trying to sell the properties as fast as they can since they are making payments on them every month. heehee… it woud be funny if he saw this on ASK. Sorry buddy! Just trying to figure you out. I know theres gotta be a catch. What kinds of questions should I ask him?
Ok… thanks folks but what I am looking for is more along the lines of what kind of “educated” questions I should be asking him or any other person dealing with a foreclosure. I appreciate your opinions but what I am really looking for is answers from people who know the market and can offer real advice on what I should be looking for.
ok sorry… what I meant to say is he will put in 20% of the downpayment. So I dont have to do it myself.