Investors – how do you like the idea of buying mortgages that are in default?  Or once foreclosed, buying the properties direct from the seller/lender?

Here’s a link to a company doing it:


They’ve just gotten started in the last few months, so tread carefully, but I love the idea.  If the offering/bidding process was this simple, we’d sell more homes.

They are selling notes and properties through an internet auction.

Check out this one in rural Oceanside, out by Fallbrook:

The lender just foreclosed on this one (with a $150,000 opening bid!) so you are buying the property, not the note. 

300 Wilshire

3 br/2 ba


2.43 acres

Current High Bid: $145,000

Eight days left.



Here is the direct link:


Like most auctions they have a 6% buyers fee packed on top of the winning bid, but still, there could be some deals. 

If you make a bid on this or any item through their website, during the registration process they ask you how you were referred.  If you put “Jim Klinge” in the box, I’ll get a chunk of their fee – and it won’t cost you any more!

You gotta look everywhere these days!

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