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

Hello, I hope everyone is well. My partner and I encountered a dilemma we've never experienced before. We really don't know how to move forward without consulting an attorney, so I decided to post our situation here in hopes of getting some bits of wisdom.

In-House Financing for your Buyers * 100% LTV * Energy Efficient & Sustainable Turnkey * NextGen Construction * 100% Secured * 30 Year Warranty High Income Yields - 50% Net Profit Split per GENIUSBOX™ Home. As a matter of fact, as a GeniusCo-op™ License Partner you become the Branch Manager of a Financial Institution offering your clients Lease To Own Programs at 50% BELOW Banking Standards! You have a CAPTIVE AUDIENCE of more than 100 Million people across USA who cannot qualify for a home loan and GeniusCo-op™ has the solution!

Many of the properties that we purchase as investors are vacant, have been vacant, and possibly have been vacant for quite some time as well. Possibly boarded up, or in very rough shape. I found this cool article that brings up a few good ideas of things to look for when purchasing properties. I hope this helps.
3 Risks to Consider When Buying a Vacant Home
By: Patricia-Anne Tom
An unoccupied home may be the best bargain on the block, as vacant homes often are listed for sale at a reduced price. Yet, potential buyers should beware: vacant homes can experience problems due to neglect, lack of maintenance, aging, natural and human damage, and other factors.

I'm always looking for ways to find deals out there in a competitive market that we are in right now. I found this article that gives a few cool ideas for property sourcing. I hope this helps you like it helped me.

3 Reasons to Buy Houses That Aren’t Selling
By: Patricia-Anne Tom
When a house has been sitting on the market for a while, it can leave potential buyers with a bad impression. Home shoppers worry there are hidden deficiencies in the house causing others to shy away. But to buy houses that aren’t selling could be your best bargain.
Here are three primary reasons to buy houses that aren’t selling.
Sellers May Accept Lower Offers

Hey DG family...I just started out a little over a month ago and have been having some trouble finding cash buyers. I posted a few different ghost ads for properties in different areas on craigslist.org and haven't received a single inquiry about them yet (some of them have been up for 1 week and others for 2 weeks). I've also attended some real estate investor networking events in my area and find that I'm meeting more wholesalers than buyers at these events (although I'm still going to continue attending more events because I'm sure I will find cash buyers eventually). Does anybody have any suggestions that I can use?

Deal #1 - Signed a contract to sell a 2 bed/2 bath/1 car(1525 sq. ft.) yesterday for 63K; Bought it for 52.5K & put in a dishwasher & had the tub re-glazed. It will close next Thurs.
Deal # 2 - Closed today on a 2 bed/ 2 bath/ 1 car
(1595 sq. ft.)Fannie Mae foreclosure, Bought it for 36,350; put in new kitchen, appliances, vanities, toilets, paint & carpet; Spent 8K on materials & it took us about 4 weeks to remodel; Sold it for $ 59,500.

I always recommend you read the contracts you are signing, especially when the contracts are being supplied by someone else. If you are brand new to real estate, I recommend working with a real estate agent. They are training in the state approved contract and can walk you through that. If they do not know the answer to something, ask them to find out from their broker or someone on the realtor board. It is part of their job when they are representing you.

Hi everyone I am a little confused about something that I hope someone can help me understand.A lot of Dean's students and superstars are still talking about doing double close's for wholesale deals. Carol Stinson however says that most banks the sell houses on the MLS will not allow you to do this due to deed restrictions, and that using a land trust or selling an LLC is the only way to get around this. So how are so many people still using this method?

Thanks for your help in understanding.

has anyone used both systems? if so, which one do you think is best?

I haven't used Prop Trend for a couple of years, so not sure how much information there is for investors.

Realty Trac provides statistics for area, ie. crime rate, population, school ratings, unemployment rate, income avg, median sales price for regular sales and foreclosure sales...
Also provides market trends and summary; gives you a list of real estate agents... so overall, it's pretty good.

Hi,
I am still a newbie and to date have made no deals. I am looking for an investor that would be willing to help me along with my first deal. I know of a house for sell by owner not on the mls that I think would be a very good win/win buy. The house is in need of full rehab top to bottom and I believe has been deemed condimed due to the roof on a small add on in the back. My sell price would be 15,000 and the property is assested at 55,000 as is.
Being that this would be my first deal I would like to work with a DG family member for correct guidence on what I would need to do and provide for the investor and help me make the transisition into becoming an investor.