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

FBI informed a couple they bought a stolen house

http://abclocal.go.com/kabc/story?section=news/local/inland_empire&id=81...

We have a 2 Bed/1 Bath/1Car Garage with separate Den
or 3 Bedroom (1210 sq. ft. under central heat/air). Recently Remodeled Kitchen; Appliances; Bathroom; Laminate; Tile, etc.
Offered at $ 39,000 : Average Rent is $ 600/month;
Less expenses; Taxes-$45/month; Ins-$60/month; Property
Management-$60/month; Repairs/Maint.-$50/month = $ 385
per month.
If you finance $ 27,300 (70% LTV) the payment would be about $ 137/month; $ 385-137=248(positive cash flow)
$ 248 X 12 months = $ 2976; divide that into your down payment of $ 11,700 = 25.4% ROI.
If interested, send me a PM for more info. Thanks,
Gary/Jill

Hi all - I live in another state and signed a Buyers Ageement with an Agent that I trust- now I use the POF letter "Costal Funding" and sent off because the bank says that want POF. Ok now, agent is asking if I have my contractors lined up - I can assume the bank as accepted my offer or will soon. House has tenants in it and are in good standing - I will be sending my signed contract to my atty for safety reasons and I do not have an end-buyer yet. If I decide to hold the property myself, is it possible or feasible to get the an appraisal first and ask the same bank or HDML for funding for fix-up of leaky roof and HVAC in the house and some remod before I close on the deal?

Can not go to bank - scores too low - but the property qualifies for fix up - please someone help me.

I did my first assignment today for $2500 and I only had 1/2 hour in the deal.

I don't usually do wholesaling cause I'm do rehabs and rentals but this is how it went down.

One of my goals for the week was to find 3 more agents to work with. One of those agents wanted me to look at a couple properties. I have two deals waiting to close at the end of this month so my financing is pretty tied up... I'm sure I could find more just not on short notice. Anyway since I knew I may have a hard time getting financing I lined up a friend and investor to come with me. We looked at two properties and he fell in love with the second one. After discussing options he agreed to pay me $2500 for bringing him the deal. Pretty sweet for 30min. of walking around.

That's deal number 14 in 12 months!

Found a great property that is an REO listed for $54,900. There were multiple offers on the property so upped bid to $65k when I found out comps were around $120k ARV. Offer was accepted at 65K but bank wanted to impose some contingencies.

They countered with $3000 binder, $100 per diem every day after closing date if deal doesn't close on time and 5 day inspection period. I countered the bank with $1000 binder and 10 day inspection.Waiting to find out if they accept offer.I have no cash to do this deal.

Thought I would be able to get hard money loan to fund the deal and flip property but all the hard money lenders want at least 20% down . Having a hard time finding a cash buyer to even possibly bird dog or wholesale deal to!

I found a home in my area ARV 375k asking 394k (def not going to pay that) The owner is a LL that wants out and is motivated to sell. I have a feeling the mortgage is around 380k still left on the house. They are 1 payment behind. Any advice will help.

Hey DG family, I'm having a bit of a problem here that I'm hoping someone will be able to help me with. I've set a goal to have my first deal done by July 4th (a good way I think to celebrate my first deal). The strategy that I'm using right now is making multiple low offers on REOs properties using about two different real estate agents. I have about two good solid cash buyers who says they can close fast with cash, just get them the properties, and of course as long as the numbers look good then they'll proceed.

I need to find Pre Foreclosures online for Free preferably but I don't mind paying if it is reasonable?
Any help would be great!!!

Thanks
Bryan

I have been too successful in the past weeks and need 18K of immediate funding. This is a REO set to close 6/17/11 and I need 18K cash to make the deal. There is plenty of room for profit, anyone capable of making this happen please contact me ASAP

Time To Resell In May 2011 Improved for Investors

Third party investors resold the homes they previously purchased at auction at a faster pace throughout our coverage area. As the most sophisticated and motivated homesellers in the marketplace, these investors provide an important indicator as to the health of the entire housing market. While the statistic is encouraging, it's too early to tell whether it is a turning point from the otherwise recent downward trend within the housing market.