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

When calculating the after repair value (ARV) I would only look at comps that sold within the past 6 months, no more than .5 miles away, and within 1000ft^2 of the same size. If it is in a higher end subdivision I would make sure my comps were in the same one or another that was close and similar in quality. If you have several to choose from I would try to match up ones based on proximity, rehab expense, beds/baths, garages, and lot size in that order.

In addition, there shouldn’t be any active competition cheaper in the immediate area that is comparable without a very good reason, ie: they are smaller in size, need extensive rehab, already under contract, etc.

I recently ran into a property with a FSBO sign in the front yard i immediatly took the # down.I originally wanted to see if this property could be locked up under contract and sold. Upon meeting with the owner I discovered they were flexible and ready to get out of renting.Without even asking the owner said she was open to just about anything and would even owner finance WOW!!!!!!Right now I'm doing due diligence.My question is how hard would it be to get some rab money via private money loans or hard money while not acually holding the deed? Anyone out there had this problem???

Would this be the type of home I would want to invest in?

http://www.zillow.com/homedetails/3925-Behrwald-Ave-Cleveland-OH-44109/3...

The bandit signs...25 yellow signs, are these made of cheap .77cent cardboard? What are people doing to put them in the ground? Are they nailing them to trees, or placing on street signs. I know you can get the white fairly thick ones at Lowes with the "H" stakes that go into the ground easy. After nearly 2 yrs of being around I'm joining Insider Elite and I want to follow step by step the process because that's how I work best. Thanks for the help.

Aaron

I am so overwhelmed with all this information. I read a book and attended a seminar but I still am not confident in the basic first steps to take. The seminar had a lot to do with paying money to attend a workshop.

What I recall is finding good deals at around I want to say 65-70% below FMV and fining cash buyers, using other people's money, and something with about a contingency clause so you are not obligated to buy any property.

If you have a cash buyer, do you have to buy the property and then resell or are you legally allowed to assign the contract, even though you are not obligated yourself to buy anything?

I don't understand but I would really like to invest.. can someone please break this down for me in a simpler way? I would appreciate it very much!

Hi my name is Thomas and im 24 years old. Unfortunate circumstances have comprised my living situation and im currently living with my girlfriend and her mother while attending college full time. I always resided in detroit and frequently see my city on top 10's and 5's listings for "best plaaces to buy property,as well as a few surrounding cities (warren, taylor, etc). My question is- is Detroit really a great city to invest in? The crime rates and burglaries are horrendous, even though the properties are extremely cheap. Is there any other DG member from and/or been to detroit/michigan who says differently?

My partner and I are located in Minnesota and we are looking for an awesome partner to find us some deals in Arizona! We've got the cash, just find us the deals and we'll make them happen!

I Just finished a three day session with an onsite mentor and have found almost 50 properties that have a notice on the front of the house that they are in foreclosure. My realtor says that they are not listed as of yet. How do I start making offers on these properties if there not yet on the market? Could some one please help me here. I'm ready to start making offers on these buy fix and sell properties.

Hi,

I am reading 30 days to real estate cash and I am at:" finding a real estate agent". I called several agents in Orlando, Florida. What struck me was that they said that the market is picking up and that there are multible offers on a house. They also said that when i asked for a list of houses with the criteria price reductions that the houses usually sell for the asking amount.

my question are:
will the strategy of buying 30-40% under the market price still work when the market is picking up? Or is this still part of the 1 in every 25 offers will be accepted?
Or should i go for a different area?

Thank you for your thoughts.
regards, Angela

Just beggining my Real Estate Investing Career and have been learning so much in the process, it's amazing that you ACTUALLY learn by doing and there is probably no better way to get the answers to the questions one has than to be pro active and get out there and JUST DO IT! It really pays off, i know this because i have done my first assignment deal a couple months ago and made 8,000.00 for just putting seller and buyer together and no money out of my pocket to do it! I did just literally put my faith in knowing that this was a no brainer deal and if even "I" had the money I would have bought it myself! Sold comps were 189,000 and I locked on contract for 90 and assigned to my buyer for 8k! He had minimal cosmetic repairs about 5k in carpet,tile and fixtures giving him 85k in equity!