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

I came across a property that is listed fror $56,500. DOM 15 days listed by fannie mae. When I went onto zillow.com it states that home could sell for $127,000. Needs some work. Not sure all that it needs. Would anyone be interested or being willing to finance to help me get started. Send me a PM. Thank you and have a great day!

Heather

We have found The NEW DEAL, THANKS to another DG'er that contacted me about helping him with an assignment. We decided to make it our next flip. We are getting it from the DG'er for $60k, he is paying $50k, well, he isn't doing anything, I am dealing with the owner and buying from him for $50k and then paying the DG'er $10k for bringing us the deal. The guy selling it has gotten power of attorney done but its not filed yet. His mom owns the house but now lives with him. The house is trashed! I mean, disgusting trashed!

Ok y'all last night I had one of those REI dreams that I've read so many of you've experienced. When I woke up, I found it hard to fall back asleep so I basically laid in bed and thought about it for a few hours. Now I'm young (23) and a "newbie" to REI so I doubt I have come up with something that hasn't been done before but I was hoping to have everyone's feedback on whether or not this would be a good no money strategy.

We purchased this 2 bed/2 bath/ 1 car garage with additional carport, additional family room & additional screen porch home from an estate that was a
pocket listing of a REA that called use back in March or April. We closed in May, paid $ 25,000 for the house. We did a Complete remodel, consisting of new kitchen cabinets, counters, appliances (refrigerator,range, dishwasher,microwave); both Bathroom toilets, vanities,
lighting & plumbing fixtures; paint inside & out; vinyl tile & carpeting...The cost of materials was about $ 5000.
Just signed a contract to sell it to a retail buyer with cash for $ 50,000; $ 20,000 profit on a 30K
investment, that's about a 66% return on investment!!!
The Closing is set for in a week, on to the next!

Hello DG family. I am coming to you all with a question concerning short sales. I seem to get potentials calling my 800 number, but when providing their info i'm finding that the callers homes are worth less than their loans are worth. My question, is there any potential with these calls? I look to do wholesales through my 800 number, but with my buyers not seeing any equity in the homes it makes it hard to turn these calls into something positive. Has anyone else completed any short sale transactions through your 800 number? All help is greatly appreciated.

When looking for wholesale deals - who is our biggest competition? The RETAIL BUYER!

Retail buyers must be eliminated and/or at least brought to a minimum when looking for wholesale deals. The retail buyer is willing to buy at retail prices. How can we eliminate this competition so we can purchase at wholesale prices. Here are a few suggestions:

1. Put in a low offer where it is justified - properties that have been on the market for 90 days plus.
2. Listings that have the following in the subject line:
* "As-Is" - motivated
* "Vacant" - means owner has at least 2 mortgages
* "Price Reduction" - motivated
* "Handyman Special" - property needs work or rehabbing

I have a RWA investor trying to buy multi units in the Houston area. He was looking at...and missed a property with a 16% cap, $3.85MM, class C in a class B area.

If you are aware of anything, I would love to know and close this client!

Deb

Hi DG students,

Is anyone in California and getting offers accepted @ 30% & 40% below market? If so where and what are you doing to get the banks to accept your offers? Or is there other techniques you are using?

Please Help!

James and Mechelle in Stockton,California
If you want to work together
call us 209-271-3399

Now, I am a new investor, as most of you know. I was thinking of how to maximize the potential on a short sale assignment.

Now, I know that there may be several reasons why this won't work, and that's why I am throwing it out there for the more experienced investors to take in, and express their thoughts.

Is it possible to team up with a bank, by explaining your business model and asking them to work with you on the short sale prices in exchange for you finding buyers immediately?

I was just reading an article about how Bank of America is demolishing houses, so why wouldn't a bank in this situation want to work with someone, or even a network of people to get these REO's off their inventory. Maybe this is something an investor or a group of investors could negotiate.

my name is leon and i live in Silver Spring ,MD.Father wife and 3 kids 2 boys 1 girl,lovem with all my heart.I am the dad that want to do and give them thing that i never had.Financially in todays world it is hard. My 9-5 is not cutting it, also struggling to keep my home and not even getting in to my other struggles, O'yeah i also live with my mother space is tight.

RealEstate Investing i know is my ticket to financial happiness.Dont know what to do. I see homes for sale ,FSBO PROPERTIES FOR RENT LEASE WITH OPTION TO OWN OR RENT.

Money for the SUCCESS ACADEMY i have but do to finances scared to give up that money up,bout i know that the knowledge that i will recieve will be worth its weight in gold.