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

Hey everyone how are you doing, my name is Ling. Actually just starting this three days and super surprises how easy it was to find all the Friendly Cash investor out there, and (I am lol ^_^)didn't know the find the motivated seller that's hard part of the starting journal. Anyhow. If anyone want to share seller or have some great tip will amazing. Please. Thank you all. of course we all doing this together and share the profit too.

How can I wholesale a listed property? Would it be the same as a fsbo? Do I just send the contracts to the realtor?... What if it is a short sale?

im trying to build my own letters so i can use to find protental investors nationwide so i can sale them reo pre foreclousers tax liens n what not does anybody can help me out on this

Hello DG Family! I am finally trying to make this happen. I am very good at finding abandoned or REO properties in my target neighborhoods. The problem is how do I get these properties under contract with no money and bad credit? I have tried finding an investor to do joint ventures with but with no luck. These homes are very good prospects as far as being "ugly"homes in good neighborhoods with good school systems and close to shopping and transportation. I am not afraid to do the sweat equity part of it. What can I do to attract a good partner? Thanks for your help

Please clarify that the best filtering request initially is to request from Realtors the following criteria, which includes all three vs. just one of the three.

All properties on MLS are Vacant, as is and at least one price reduction. Or is Dean recomending one of these three (vacant, as is, one price reduction) vs. all three to start.

thank you,

Bob

Hi DG family. I live in Levittown Long Island Ny, me and my lovely girlfriend have found a few property that are distressed and bank owned.

Currently there is one property that we are getting into that is bank owned (wells fargo) and has an agent assigned to it. Well today we had the agent come down and show us the property.

The outside need little work (yard work) but the inside need work. Tons of walls have patches, carpet,plumbing (winterized), etc...

The agent told me he has it currently under contract (why would he show it to me?) but the offer is too low (230k) and that the bank will take $250k...

Does anyone know where I can find the questions to ask your cash buyers when they first contact you? I've spent the last 2 days searching and reading my brains out to find it and I haven't been able to. Or if you could give me an idea of what you use to ask any of your buyers when they first call I would greatly appreciate it!!

Here is an interesting article I found on CNNmoney.com
We are seeing an increase in forclosure that are taking place.

NEW YORK (CNNMoney) -- Foreclosures showed few signs of slowing during the first half of the year, with a sharp increase in new filings occurring during the second quarter.

More than one million homes had foreclosure filings -- notices of default, auction notices and bank repossessions -- during the first six months of 2012, up 2% from the previous six months, according to RealtyTrac, an online marketer of foreclosed properties.

Deal: Assignment

Locked on contract for 45 days at 49,00.00 includes my
assignment fee of 4k

Broker's Priced Opinion on sold comps is 75,000.00
This central downtown area has mixed comps because of historical homes and multifamily units and newer aged buildings. Her recommendation was to lock it at 50,000.00

Negotiated with seller for 45K Cash and added my assignment fee of 4k

Duplex= 1498 sqft Both units have 2 bdrooms 1 bath with extra storage room in back. Needs 4,700 roof
5,000.00 Cosmetics.
RENTS= 1 Unit 365.00/ 2nd Unit 450.00
Seller pays 100 Water Bill/ Tennants pay Utilities
Income 715.00 End buyer's payment to bank 345.00
Passive income= 370.00

Buyer's List: First buyer likes the area but is buying one at tax foreclosure on the street over SFR.

I need some practical advice from some of the veterans on this site. I want to get involved in wholesaling so I have read all of Dean's books several times to help me understand what I need to know. I am ready to jump in but still feel I might need to get some more guidance for when I have questions. (contracts, paperwork) I was wondering what everyone thought about his Success Academy in general? I would love the idea to be able to call someone whenever I needed some quick guidance. Should I strongly consider that or should I just use the forums for when I need help? Any advice would be greatly appreciated.

Thanks

Nick