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

Hi All,

I'm putting this out there!!! Let's make some money together!!

I have a buyer who needs to closer 10+ deals a month.

Does not matter the specs; just as long as it 70% or better, only light repairs, $500k purchase price (but he will make an exception if the numbers look good.)

PM me.

Thanks,
Philip

I just thought I would share this piece from an article I read. Very interesting for first time home buyers. Enjoy.

By Tara-Nicholle Nelson | Broker in San Francisco, CA
5 Things To Do NOW If You Want to Buy A Home In 2012

Posted under: Home Buying, Financing, Credit Score

When buying property "subject-to" the existing mortgage is there even a need to go to closing since the deed won't be in my name or my end-buyers name?

Whats the steps you have to take in a reverse short sale transaction?

Seen many investors go with Zero and even 1 dollar deposit on their offers on bank properties, REOs and Short Sales.

Does this hurt your chances? And what are the members here putting down, and how are they financing it if it is more than the above amounts.?

Thnx

Gil

So I have a property that I could possibly get under contract but I just wanted to get some advice from some of you veterans on the site. I've had two deals fall through in the last couple months and I just want to make sure I get this one right. Here's the info:

The property is a duplex with 2/2 on each side
-1,900 SQ FT
-A/C Units and Roof are fine w/no leaks
-Property Tax in 2010($5,300) 2011($4,980)
-8 Total parking spaces on the property

So I found 2 REOs last week on the net. I realized the huge price reductions on both.

Home 1 Arv $350k Reduction price $222k called to go look at the home. No response. CALLED back today. The home was sold about a week ago. I can bet for less.

access nationwide REOs pm me for details

I just saw a Zestimate on a local REO at $65,000. while the asking price on a home was $42,000. If the REO is in reasonable shape, is this a good deal or do I still need comps of like properties?

When buying an REO to hold and rent out,what is the process after the deal with the bank. It seems once
once you have purchased the REO from the bank with a
transaction funder you have 1 day to hold that property.What is the next step to take ownership?

Please help me with this question so I can make a decision.

Thank you

Harry