01 October 07 - 13:09Author Reveals How He Earned $77,300 With One Preforeclosure

I have had a lot of requests from subscribers asking me to write about one of my preforeclosure deals in detail. They wanted to know
exactly what I do to make a tremendous profit on a preforeclosure. Here’s how I profited over $75,000 on ONE preforeclosure and how you can too.

Using the exact same methods contained in my courses, I found a preforeclosure that the owner wanted to sell right away. I knew the house would be worth $300,000 if it was fixed up properly.

My very low offer of $152,000 was accepted by the homeowner. He was happy to sell the preforeclosure house at this price and just wanted to get rid of it because it needed a lot of repairs. To the homeowner, the preforeclosure house was a pain in the neck.

I went to my local bank and asked if I could borrow $150,000 so I could purchase the preforeclosure. My banker said he would loan me $120,000. I now had a problem. I did not have ANY MONEY at the time because I had it tied up in other preforeclosure deals. I was getting ready to lose one of the best deals of my life! (more)

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