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

I gave my agent the address to a couple houses. One of them, the comps came back for, and the other she couldn't find any. She even went up to 4 miles, and still couldn't find any. Both are rental homes that cashflow every month. Is there another way I can come up with comps for this thing, or ways I can evaluate these rentals?

I'ld like to see if I could make some money off these by wholesaling these. Or, could I try to see if I could get the owner to lease option & do a sandwitch L/O with another buyer? Both may need a new roof, and the other could use a new a/c unit to replace an evap. cooler. What do you think? Thank you.

I've had some experience with doing lease options in teh past. I put 5 properties under contract but could not collect an option fee. That proved difficult so I have another idea.

I want to get a 100,000 line of credit. Find a property valued at 200,000, selling at 150-170. Put 20k down, finance the rest hard money or with a mortgage broker.

Put a renter in it. Put back on the market immediatley and sell for 190. make 20-40 k profit. What do you guys think.. Will work, any unforseen problems.

Seriously thinking of looking for a line of credit. Thinking this is best when the market is in an upswing but what if I could get shortsales or foreclosures right now priced steeply below??

Preciate all responses.

One of my buyers recently just added a 64 unit apartment complex in PHX to his portfolio.
Cash Wholesale Deal.
2,050,000 mil.
80% occupancy.
Low Income Housing.

18th ST and Van buren, 64 units,
12,1/1,675sf($499)
36, 2/2, 950sf ($539.)
16,3/2, 1206sf ($645)
Any takers...

Hey I have a deal where the owner is 74 yrs old the house is in the St. Mountain, Ga area! She refinanced on the house two years ago and didn't take no money out of the property she did it to drop the interest from 8% to 6%. Her husband passed and she won't to move to California to be with her grandchildren and her health is failing! She won't take nothing under 150,000 for the house because she has a mortgage on the house for the 150,000! I ask her what here paymnents a month is and she said that they were 1,047 and that include taxes and hoa and everything! They take out the money for the house on the 3rd and the 15th of every month! I asked her if she would be will top let someone take over the payments and just pay on the house and she said yes!

I have a question about the closing fees when double closing.

Do I pay two closing costs or only one???

Hello Family,

I soon will be locking up a subject to Deal. I found this owner on Craigslist and he was selling the house to be assumable under a VA Loan, so I asked him a question about assuming it and he said you would have to go thru bank. Well I didn't want to go thru the bank, but I wanted to inquire if I could take over the payments and he said he would be open to it. The property is move in ready too. I will be investing in this property but I will be moving in to it because I am tired of staying in an apartment paying rent. I am in the military and really wanted to move to a house before June 2011! I will keep you guys posted if this deal goes thru!!!

Work Hard Play Hard

I was really really intrigued by Greg's strategy of getting seller's deed and essentially taking over their payments with a lease with option to purchase for the remaining mortgage, and then placing a buyer on a secondary lease with option to purchase as well. The issue that I encountered is someone told me that technically the bank would have the right to foreclose since it's a violation of contract for the home owner, since it is listed as a primary residence, and they are no longer living there. Is this true?

Regardless I doubt the bank would do much since they want their payments and don't get anything positive from foreclosing, but I wanted a second opinion on this.

A lot of times it's the legal aspect of real estate that worries me the most.

I have bank approval for 175K. The home I want is a mulit-unit at 255K. I have access to 11K. Any suggestions on how I can make this deal go thru?

Info: House sold in '05 for $510K, went on the market for for $287K in Oct, and is now 255K.

Sincerely Yours,

Lets Get In the Game!!

Hello All,
This is my first big post asking for help. Many of you have seen me on here for quite some time now without a success story thus far. BUT I might have my first deal lining up and I need some advice on what to do next...

Hi everyone, new to the site... almost finished reading "Your Town Your Real Estate Profits". Really love all the information from Dean and so excited to get my first deal... its 3 weeks since i read Dean's first 2 books and almost done the third.

I came accross a FSBO in a really nice and high end town in Canada... oh yeah - from Canada.

The home is still under construction but will be done in one month. The flooring, kitchen, painting - basically all interior finishing touches. Landscaping will not be done

This was not an investment project, but a home for the owner himself, so he is not going cheap on the amenities and construction.. He is basically building it for himself to live in.