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

We've just found a house that has a reverse mortgage on it. To the best of our knowledge the owner has passed away and the bank has contacted the grandchildren that are occupying the home that they can pay off the mortgage for 30K. The home is in CA, and if the house could have a clear title for 30K, this could be a find of a life-time.

Before we get to that find of a life-time part, we need to know if paying off the house's reverse mortgage is even possible. I would have thought the property would be in probate not offered to family members that are currently there. Obviously, we need to do a lot more research and get familiar with reverse mortgages, but should we try to get this under contract now and work out the rest under due dilligence?

Hello everyone. I've been using the techniques provided in Dean's books and I'm hopefully on my way to completing my first assignment. I just wanted to run this by everyone on here and see if I can get a few more opinions.

Jill & I have been involved with Dean since 2008 & went to the first Edge event in 2009. We have completed 67 Buy, Fix & Flip Properties in our own little town, as well as some lease-options.
I have had the honor & pleasure of speaking at several of Dean's Free Events promoting the training at
the 3 Day Workshops.
I am amazed on how Dean Over-Delivers; besides the
Awesome Training over the 3 days, just for signing up, the students are given Unlimited Access to the Funding
Partners; up to $ 500,000 per deal; Unlimited duration
& Ulimited Deals for ONLY 2% of the amount funded, plus a $ 495 (paperwork)fee. ALL for ONLY $ 1997 ... AND for those who complete that 1st deal in 90 Days, they receive a full REFUND CHECK!

Americans’ Home Buying and Selling Optimism High

May showed a sharp increase in positive consumer sentiment related to buying and selling homes. The share of respondents to a survey who said that now is a good time to sell a home rose to 40% compared to 30% in April and 16% one year ago. At the same time, the share of consumers who indicated they believe it’s a good time to buy a home rose by 5 percentage points to a high of 76%.

Mortgage Rates Higher but Stuck in Range

While mortgage rates rose again this week, it was more in the amount of fees paid than in the quoted percentage to the borrower. Rates are still locked in a new slightly higher range than in the previous few weeks.

Which Real Estate Markets are Rising from the Dead?

Ok folks this is a great idea I learned and I know that you could benefit from it as well. I leaned a new way to find money to fund your deals!

Self-Directed IRA's

Remember that and you will be quickly going in the right direction on finding investors. WE all have retirement funds and we all have access to people who do, well there is regulations with these ideas but you have to consult you local Accountant for more details!

But with Self-Directed IRA's, people can have control to write you an immediate check for your Real Estate Transactions. That is good to have if you do get that once in a life time deal you need funded!

Many people ask me about my thoughts on foreclosures drying up during this upswing market that we are currently in. People naturally thing that when the market is going up, that the number of foreclosures will be going down. Believe it or not, the number of foreclosures are on the rise and will be for some time. Event when the market is going up. I was doing some research, and found this awesome article that talks about this exact question. It’s a quick read, but has some great information in it that supports what I am talking about. Enjoy!
By Amber Nelson | Mortgage101

If possible I do not want to start up a new company or LLC until I do my first deal and than have the money to startup a new company. In order to do it right it looks like I need around $700 to start a business with all of the incidentals that I would need and like to have. That said can experienced REI's cut to the chase and tell me can I get away with doing my first deal using just my name and not a company name or must I incorporate first?

I am going though Deans 30days book and want to know if I actually need to go to the property? This might be a dumb question but I saw videos that say both Carol Stintson, Matt Larson rarely go to see the properties they are investing in.
My reasons for not wanting to arrange a visit are
1)I have no clue how to appraise a property
2)Don't know what I should be looking for in the property
3)I have a crappy car and think my agent will not want to work with me after seeing it

My questions are
1)Should I go to the property anyway even though I don't know what to look for?
2)How can I make a offer without having seen the property up close

Any advice is very much appreciated, Thank you!

Low Inventories and Foreclosures Still High

Though foreclosures have fallen by a quarter over the last year, they’re still at double the rate before the crisis that began in 2007.

Interest Rates Rise - Mortgage Apps Fall

Interest rates took a significant jump last week, and this was partially the reason for mortgage applications to drop by 9 percent.

Some Sellers Calling the Shots Again

A recent survey of 365 home buyers found that 33% of them have been searching for more than a year due to low inventories. Sellers in some areas are taking advantage and listing at higher prices.

Does anyone know what the seasoning requirements are, if any, if you purchase a short sale. I've read somewhere that you won't be able to double close a short sale property because they require you to have the title atleast 30 days before selling? I'm pretty sure there is the 90 day seasoning requirements for FHA type loans still but I've read a few different things. Thanks.

-zach