Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

I literally spoke to the agent for the first time, only the second call I made about a property in my area with acreage. The agent has been around this area and helping investors since the 70's and he was very helpful about the questions that Matt had given us to present our case. Anyway -

This is a property that is not listed yet, has about 2 acres with it and he says it will need about 20,000 for repairs. (Probably more though since there are animals involved) He thinks the property will go for 90,000.00 but will flip for 175 or more. The thing is, there is an active eviction of a lady who has been in the property for 20 years. Me, I want to hang out for this - grab it when she is evicted. (Poor lady) and turn this around.

I have a deal that I made with the seller two weeks ago. We met, she wanted to sell the property, she did not care about it, and wants to move out of state. We locked up the property and we are now waiting to close this Friday. I assigned the property to my end buyer. And he payed me my assignment fee in cash when I turned over the deal. I created a new contract with the new buyers name and the sellers name, and it's set to close on Friday. She calls me this morning and says she changed her mind. WHAT?
Does she have the option of backing out without me loosing anything on the deal? I am going to call or meet with her and say she signed a contract.

Who has an idea?

Hello DG Family. I need help. I have read Dean's books, read a lot of the posts on here. I've listened to other educators and I am still NO WHERE. I truly want this to happen for me and my family in 2015. I am currently unemployed and I have all the time in the world to pursue this dream. BUT I AM LOST. Every time some great information that I need to get to where I want to be costs money (information on how to post ads on craigslist, or even where to post ads....How to get cash buyers/investors.....how to get the money you need to contract a house and wholesale this....Please ... if there is someone out there who wants to help me....I am a quick study. I will split my deals if I have to. I honestly just want to get my first deal under my belt.

My team has commercial properties that can be delivered immediately. If you are looking for hotels, resorts, MF, any type of commercial property, you need to contact me. Let's close deals. Reach out to me at haggertyhill at embarqmail dot com.
Amy Haggerty

Happy New Year REI Professionals,
Hope everyone is doing well. I currently live in the Palm Springs Area, Riverside County, California, where properties are still cheap. I'm looking to purchase an REO for myself because I'm tired to pay rent! Here is the info:

* REO Property
* Fixer
* 3/2
* 1,500 SQFT
* 5 acres
* Swimming pool
* Fireplace
* Additional 1,000 SQFT that needs finish
* Purchase price: 65K all CASH, "as is"
* Approx Current Value: 165K, "as is"

Here is my sitation:
* Low credit score due excesive medical bills. I do not qualify for a Conventional Mortgage.
* First Time Homebuyer.
* Do not have money for a down payment.

FHFA Announces Policy Change For GSEs’ Existing REO Sales
Author: Brian Honea November 25, 2014

FHFA Existing REO Sales Fannie Mae Freddie MacThe Federal Housing Finance Agency (FHFA) announced a policy change on Wednesday that would allow Fannie Mae and Freddie Mac to sell existing REO properties to any qualified purchaser at fair market value, which would be determined by the companies.
The new directive applies only to the single-family REO inventory of Fannie Mae and Freddie Mac as of November 25, 2014. The combined inventory of single-family REO properties for the two GSEs currently totals about 121,000, FHFA reported.

Does anyone know of Realtors who Wholesale properties?

I have a buyer that purchase mortgage notes. Can anyone tell me how that process works? And do mortgage notes only come from banks? If not, where can you find mortgage notes or people who want sell them?

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Hello.
I will be meeting with a bank that has 2 REO properties. I was expecting to hear that they worked with an REO agent (real estate agent) so I could work with that agent, and place properties under contract and assign to an investor to flip. I know that banks do not work with “or assigns” type of transactions.

Can anyone tell me what to expect and how I can work with a bank with no money or credit to flip these to another investor (as I would be able to do with an REO Agent?

Ter Scott