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

We closed on our 5th house deal since we bought one of Dean's books. At the time this deal came to our attention we knew we did not have the money to swing this deal and not being one to pass on a good deal I used OPM to close this deal. My sister Alison and her husband helped us doing leg work on a past deal and they wanted to get in the REI adventure also. I asked Alison if she wanted to get in on this deal and she said yes. She had the cash to pay her half of the deal.

What are some cases where you wouldn't be able tO wholesale a property? I've always wondered but really never got an answer.

How exactly does it work?...How can I protect myself so I don't get cut out of the deal?

what are my options with vacant homes? i found two and im going to city hall to found out who owns them. THEN what?????

Hi folks
I am looking at some deals here in Philly and some are REOs and some are shortsales. Before moving forward on either, I'd like to find some cash buyers or a partner to share the load and the profit. If anyone is interested please pm me and I will get back to you.

Ogal Gaines
LAGO Acquisition, LLC

I just wanted to see what you guys would offer and pay for a potential deal on the totalview the house is worth $143k what is the most you would pay and how much would you turn it for??

As i progress in my real estate investing venture and a Fresh Newbie, I learn some new NO No's along the way:)

So Now that I have a Deal locked up on contract, is it common knowledge to let my cash buyers know when I have to close by? I called two at the top of my list to offer it to them first before I advertised to the others on my list both asked me "when do I need to close by?" Is this okay to say and advertise?

i was walking down the street and saw a property in not to bad of a neighborhood and there was a sign that said 700 down and 350 a month and i thought wow must be a lease option. so i called the number posted on the sign and found out it is a foreclosure or a homepathy prop offered by fannie mae. I talked to the lady and sais i was interested in it and i told her if it was a lease option and she goes no its a land contract. They want 40000 and i checked out zillow and the zesrimate on there was 35100. So zillow was helpful in this situation. Its a 1 bedroom 1 bath sf home. I told the lady i would like to see the prop and she gave me the lockbox code. I havent viewed the prop yet but know just from feeling it has profit potential. I dont have no credit and some cash to invest.

Is there a web-site or method to looking up by bank name and pulling all REO's from a database (this would be for those small banks in your area) which the big web-sites are not advertising? I assume it has to be recorded in some database somewhere.
- Russell

This is kind of different.
I have become friends with the daughters of a house that was going through probate. It is a 4 bedroom 3 bath with an elevator for a wheelchair. Because it was behind on payments and the daughters also couldn't make them up or fix the place, I asked them about a short sale, they refused, wanted an outright sale with more than it was worth. I then found a family that would make up their payments and give a cash flow for lease option, and he was willing to fix the place up, just so happy to have their own place. The daughters again said no, wanted an immediate sale for more than it was worth.