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

I get asked this question a lot when it comes to looking at MLS listings. So when I ran across this article I thought I’d post it to help everyone out who may not know.
What Does ‘Withdrawn’ Mean on an MLS listing?
Jan 22, 2014 By: Michele Lerner

QUESTION: What does withdrawn mean on an MLS listing? Is this property no longer for sale?
ANSWER: The term “withdrawn” means that the home has been removed from the Multiple Listing Service by the homeowners and is no longer for sale. However, it doesn’t mean that the home has been sold. In that case, the MLS listing would read “under contract” or “sold.”

Scheduling a walk-through on a property that you are purchasing is one of the most important things that you can do before you purchase a property. That is why I wanted to share this article with you when I ran across it on the internet. I hope it helps you like it helped me as you are conducting a walk-through on your potential deal.
Walk-Through Tips for Homebuyers
Feb 10, 2014 By: Michele Lerner

One of the most exciting days during the home buying process is when you have your walk-through, usually scheduled on the day before your settlement. Just like it sounds, a “walk-through” takes place when you and your buyers’ agent explore your home-to-be and check to make sure it’s in the condition specified in your contract.

I found a neat article that talks about finding a good real estate agent who can give you good solid advice on making offers on properties. Especially when it involves making full price offers or more on properties.
Should I Offer More Than the List Price on a Home?
Feb 19, 2014 By: Michele Lerner

QUESTION: My agent is suggesting that I make an offer on a home that is more than the asking price. I am being told that there are other interested buyers. Right now I am not entirely comfortable with this situation. I don’t know if I am being told this because it is true, or is it [for the real estate agent] to have a higher commission?

I found a neat article that talks about things to look for when buying a house, or even making an offer on a house. I hope this read helps and you learn a few new things like I did. Enjoy!
10 Things to Consider Before Making an Offer on a Home
Mar 3, 2014 By: Michele Lerner

If you’ve narrowed down your choice of a home to one, you may be eager to make an offer and get negotiations started. If you’re buying in a tight market where sellers have the upper hand you may even feel pressured to put in an offer the moment you see a house.
But, before you write that check for your earnest money deposit, you should take a little time to investigate the house and the neighborhood so you have a better idea of what you’re buying.

Hello everyone -- first time making a topic here, and preparing to make a move on my first deal...I hope what I'm doing here is appropriate by asking for some advice.

I'm here ready to make a move on a few properties within walking distance from where I live. I'm in Chicago, in a neighborhood with some big commercial expansions nearby (new malls and big-box stores built close by). Unless I miscalculated, our cycle indicates a strong Up Market. Even though I have a few good opportunities literally a short walk from my home, I'm a bit handcuffed by having little money and weak credit, due to my time in college. However, I can't let these opportunities to get away, and I've been wracking my brain to come up with a way around it.

Flipping properties has become a very attractive strategy for beginners and experienced investors. If bought right, rehabbed right and sold fast you can really achieve a high annualized return. It definitely requires a lot more expertise and is more risky than many other strategies but done right can lead to big profits. Here are 5 keys to identify areas ripe for flips.

High end blue collar areas – High end blue collar areas are ideal for finding prospects to flip. Warzones will not work and the nicer suburbs will have too much competition from owner occupants who are willing to outbid you and pay retail. These areas represent the largest portion of the population, thus you have the most houses to choose from and the most buyers.

This is one of the most common questions that I get when working with new investors, and I guess that it is to be expected. Not only are there a lot of different types of properties out there, but there are also different strategies and pros/cons to each strategy. So in this post I will attempt to provide some criteria for how to answer this question for yourself.

What Are Your Goals?

I believe that everything comes back to your individual goals. There are many different types of properties and strategies out there, but unless you know your goals it is difficult to know which one to select. So start out by figuring out your goals.

Related: Tips for Achieving Your Goals in 2014

What is Your Strategy?

I get a lot of questions from Students concerning HUD homes and how to do them so hopefully this information I found will be of help to you! Randy Bailiff

HUD homes can be a great opportunity for owner occupied buyers to get a great deal. HUD’s process is a little different from most seller’s, but if you know how the HUD system works it can be very rewarding. I am a HUD listing broker and I have sold hundreds of HUD homes in the last three years. Purchasing HUD homes can be scary, but I know the HUD system and how to successfully submit a bid and close on a HUD home.

Hey Everyone!
I've been searching for a Hard Money Lender who Lends Money, Based Strictly on the Deal and Not your Personal Information? I have a Great buyers list but I'm looking to add a good Hard Money Lender Company to My Team of Professionals that will lend funds strictly on the deal only for desperate situations and/or Security Blanket! There are many companies out there that advertise this but when you review the application they want all your personal information. I am investing Nationwide so a Good Nationwide Company will work. If anyone knows of any good ones please respond!!

Greatly Appreciated!
Thanks,
Justin-

ust a few years ago, buying a foreclosed home was seen as a way to get a bargain. With a glut of foreclosures and few buyers perusing the market, lenders were willing to sell homes at a substantial discount just to get rid of them. Those days are gone. Buying a foreclosure can still be a good move, but you're unlikely to find the same great deals.