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

Hello everyone:

Hi everyone,

I'm just getting started and have gone through almost all of the rock bottom blueprint materials, and have gotten a few pre-foreclosure/reo listings back from my agent...

I'm trying to just understand the process that I should be going through to assess if a property is a good candidate for wholesaling:

- So in this example, the home is listed in the mls for $139500 and is 1604 sq ft.

I think I found the correct county website to check the last property tax records and this is what it looked like:

http://screencast.com/t/xjB2IeQX

So from this, I would gather that the total assessed value of the home/land is $165390. The total property taxes per year were $1571.55

Hello,

There is property that is in pre-foreclosure status and the owner needs to get rid if it. I wan't to take over the property but need help from you all on what type of deal to assign and what paper work to utilize. Also, the owner is backed up 4 months on payment, does this need to be paid of first and if so when so when should the deliquent balance be paid? Will I need to take the paper work to a title company or lawyer Thanks

I have just spoke to a realtor here in southern Massachusetts she stated that banks require owner occupancy on bank owned properties.If the bank finds you are an investor going to buy and flip that there would be up to a 10,000 dollar fine.Does anybody know if there is any truth to this comment? thanks

I have property, just need buyers at the moment. Buyers, if interested, give me the criteria of what your looking for. I have property in Texas.

I listened to a interview with a top local REO agent and she mentioned needing not onlhy POF letter with offers but copy of bank statement and copy of earnest money deposit.

My question is, I can get POF letters all day long on the internet but how do I handle the bank statement (showing less than a hundred bucks...yeah less than a hundred bucks) and a copy of earnest money deposit when I don't have a checking account either?

First reaction is I'm not going to be able to do this.
Now for the competitor and knowing others have overcome this....HOW am I getting around this and going to be able to submit offers?

Thanks and Regards
Troy

Post #1 in the books
Check that off the homework list

A Reminder I'm doing A Online Chat at YAHOO! IM On Real Estate at 11 AM Est time Tomorrow Morning ( TUESDAY August 9th ) If you liked to Join me Just E-mail me Your Screen Name Or Just Add me to yours & I'm also Selling ( Wholesaling ) 2 Luxury Homes so if your Interested in that i'll be talking about that too in my chat . i'm soooo excited can't wait.

Can anyone shine some light on my question. How did Dean obtian that house , that he was giving away for the contest please help

A tip I learned from something that "bit" me when I was a n00bie... this is when you're building a buyer's list or getting a contract signed to sell a deal you're assigning.

When you have investors tell you "yes I'm a cash buyer and close fast, please put me on your list and let me know about your deals", or when you're signing a contract with a buyer, here's something else you should ask.

"If I bring you a property and you're interested, (or if selling just) will YOU be closing on it personally or sending it out to your list?".

doing A Chat on YAHOO! IM Tuesday Morning at 11AM Est time soon On Real Estate to Join Just E-mail me your YAHOO! screen Name Or Add me to your Yahoo IM @therealestategeek

I well All the DG Family & If your on Facebook Please Add me I'm @ http://www.facebook.com/profile.php?id=100002549729200

I Chat & Network With Other Investors & Help Others with What I Know So If you want to Join me Just PM Me here Or Join my Facebook Page & send me A E-mail there .

We Are Family & Dean Has connected all of us to Together & I'm Very Happy to be part of DG Family .

DON'T MISS MY FIRST CHAT ONLINE TUESDAY MORNING .