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

Hello!

Like many of you I am having difficulty finding an REA that is willing to work with me. One agent in particular recommended I become an agent. It was really kind of funny! I thought I was walking into a meeting to discuss investing and she pulled me into a sales pitch with her manager. KW agent -- they get paid for recruiting new agents. Go figure!

The idea of becoming an agent holds some appeal to me:

1) Access to the MLS.
2) Access to lock boxes to go look at properties.
3) Ability to make multiple offers as I see fit.
4) Backing of a firm to supply contracts, etc.

Negatives:

1) Desk fees
2) MLS fees
3) E&O Insurance, etc.
4) Unknown (to me) compliance issues surrounding wholesaling versus acting as an agent.

I'm looking to put together a super team in Atlanta Ga.
Any one can recommend the following team members that really
knows the business?

- Real Estate Agent

- Title company

- RE Accountant

- Property Management

Etc.

I have a FSBO seller of a duplex that wants out of her property. However, here is the situation.

1) The Zillow estimates are approximately $84,000 for the neighborhood.

2) She owes $80,000 on the property.

3) Said she would consider taking $75,000 and making up the difference.

The neighborhood rents for $850 - $950 per month. Her selling point is the rental value and the property appraised for $99,000 back in 1999. It is in decent shape and has been well maintained. I do have some landlord buyers on my list.

As a wholesaler, is there is deal here or is the risk too great to put this property under contract?

Thanks!

I'm looking to put together a super team in Atlanta Ga.
Any one can recommend the following team members that really
knows the business?

- Real Estate Agent

- Title company

- RE Accountant

- Property Management

Etc.

We are actively looking for wholesale deals over 100K (no max). If you have something you think qualifies PM me and let's check it out.

Therin

Ok Im trying to get my first deal under my belt, I know I know I shouldnt be but Im scared to death of getting it wrong and looking like a fool. (at least im honest about it).
My realtor sent me a property that just came on the market because she saw how low it was listed fr and the wording in the listing, listed as owner looking for a quick sale, house is listed at 124900 its a 3-1 with 1348sqft. From the pics it doesnt look like it needs much at all from the pics. I asked her for some comps and 1 sold for 149900 is a 3-1 with 1344sqft. now 149900 divided by 1344 gives me a 111.5 cost per sq.

I need wholesale properties. PM me if you have a deal.

I have been researching how to make real estate work for the past 3 or 4 years now. I have always been hesitant about pulling the trigger because I thought I didn't know enough about investing.
Recently I finally reached the point where I realized that I know all I need to know. I have read so many books about it that I almost knew what it said before reading it with minor differences in approach and a (small) nugget here and there that I hadn't read yet. Heck I am sure I could write my own book by now (but I won't since I have no real world experience).

I decided that I would use the buy, fix, sell strategy using hard money lenders. The hard money lenders I found all required a 60% maximum LTV (Loan to value ratio). So I figured my offer formula as follows:

HI all, we have a very difficult situation to overcome.
Our scenario is this:
We are working on an REO Deal using Hard Money from Insiders Cash. At present, we are expected to sign a 7 day contract to close in 30 days. We want to have the realtor extend our inspection and loan application time from the 7 days currently contained in the contract to 14 days. Even at this, because of the process required in the steps, as follows:

1. Sign the contract (starts the clock)
2. Lock up a buyer with contract b (which could take several days to a week) we are new at this!
3. Then submit the request to Insiders Cash (my understanding is that we must have a buyer in place to be able to submit the funding request)

Is anyone in this forum doing REOs in Maryland? I am doing my first deal there and my Realtor's 'Contract of Sale' is 36 pages long! If you are active or experienced in this market (Baltimore, Maryland).

I could use some help.

Thanks,
Steve Hunter