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

Hi guys. I'm a newbie. I am totally psyched about being an investor. I have about 25 buyers already, some are websites that you just put all the info in but that's just a few. I have a good 10 i think I'm focused on because they have the same criteria, 3 & 1+ starter homes.
I do have a few obstacle's and figured I would ask how some of you guys over came yours. First when I started It was easy for me to sneak out 10 minutes here and there to call a buyer and stuff like that, but since then 3 guys have left my job and haven't been replaced. Now I'm finding it very hard to make any phone calls during business hours. Can i call buyers after hours?? Doesn't seem professional. Maybe I'm over thinking this??

Hello,
I am going to incorporate myself with a Single-Member LLC. I want to separate my personal assets from those of my future investment transactions. Also it will give a certain level of credibility when working with sellers.
One option is to go through one of these one stop shops like Nevada Incorporated HQ. They file the paperwork and register you. They also say they will help you to obtain a business line of credit, which would be very helpful.
Does anybody have an opinion on whether these one stop shops are worth the extra pay? Seems I could do it for a lot cheaper if I did it on my own. But on the other hand, I am no business expert. And there is comfort in dealing with professionals like these.

Any opinions or words of wisdom?

Thanks, Jeff

Ive never had to deal with taxes before.im a wholesaler. The seller owns the home but live out of state. She is behind 7k on taxes, who will have to eat the 7k seller or end buyer
ARV 122k
rehab cost 30k
my offer 21k

I am looking at a HUD home that's a real fixer upper. The realtor says it has to be owner occupied. Is there a way around this or a technique I can use to get it for myself to rent and fix up while there.

Thanks,

I'm going through MLS cash solds and coming across some that have the tax bills sent to two people. For the past 4 years it was the same two people, now in 2011 it's a new person and one of the other ones from before. What does this mean? Trust agreement?

Marc

hi I am fairly new to this however i believe i have done all the steps that dean talks about on his books. however i dont seem to be able to find a investor friendly Real Estate Agent. i did the cold calling with RE offices, i even put up a few ads on Craigslist. they all sound great in beginning but as soon as i mention 25-50 offers a month, one purchases, i even walk them through the fact that i will do all the hard work of research, i get the same responds:
"SO ARE YOU OFFERING BELOW 80% OF ASKING PRICE?"
AND then boom they drop like fly and act as i am crazy of something.
Any way I know there are friendly Real estate agents but how can i find one who understand how we work?

I would appropriate all help i can get
Thanks
Kathy

Anyone looking for Wholesale deals in SC? PM me for more details.

Hi everyone, this is my first forum topic. Today I just got a note from my agent showing me a property that is an "equity sale". Google it says that it's like the opposite of a short sale meaning instead of having more debt than the property is worth, an equity sale has already some equity (for lack of a better word) in the property.

It sounds like a very tempting deal and I haven't done my first yet. So can we please discuss the good and bad of equity sale? I have not made a single offer on a property yet but this seems tempting. Thanks.

Hello everyone!

SO i see this house on ForSaleByOwner.com. I go by and drive by and the house seems to be in fairly good condition. I finally get the courage to call up the home owner and he tells me that this house is a short sale and then goes on and tells me he's a short sale specialist.

By running the numbers i saw this was a potential deal to assign to one of my cash/buyers.

House is 4 bedrooms, 2.5 baths, 1 car garage.

Asking price is $245,000.
Did some comps and estimated FMV is 315,000.

Before i found out it was a short sale i thought this deal had potential but obviously i know banks are not going to their property be assigned.

Very informative