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

Hey there fellow real estate investors.. Iam an old member of the "DG" family. Unfortunatly I was force to stop my passion, real estate. Though I have worked all the kinks in my life. I believe I will be able to make this my full time job. I did not exspect things to happen the way they did. All though I do believe things happen for reasons. Even when we can't see why.. So here iam !!!

Here is an interesting article I found on cnnmoney.com
It talks about short sales and the rising tide of home that are being sold as short sales. It talks about a new regulation that is coming in June, that will require the bank to have a decision on a short sale with in 60 days. WIth that in place it should greatly reduce the amount of time it takes to close on a short sale.

NEW YORK (CNNMoney) -- Short sales are rising sharply, offering many struggling homeowners a better alternative to foreclosure in many of the nation's hardest hit states.

Okay, so I got my agent to sent me many potential properties to put offers on, but all were HUD homes and owned by the bank. I'm guessing that I need a new batch of properties... Needing advice. Thanks.

They're a lot of bank REO's in my area, but in order to even see them the bank's and/or REO's agents want to see a proof of funds letter. Some banks have an bulk inventory in excess in the hundred's just sitting around doing nothing at the moment with them. How do you alleviate this problem.

A private, 3.87-acre estate on the St. Johns River and a new, custom home in St. Augustine's exclusive Palencia golf and tennis community in Florida will be sold at auction.

if you want to see that? For somebody, it may be suitable.

http://www.irealtytimes.com/articles/2365/20120420/two-florida-luxury-es...

Hi can anyone help me answer this question? When we use the insiders cash funding do they also include any repair cost? Or is it just for the purchase price? I am not sure how that works I called and they said I had to submit the paperwork first then someone would call me within 72hours to discuss if it is a good investment. I do not want to put in an offer and not have the repair funding as well. If anyone has used the insiders cash yet please help.

Thanks
Maria

Ok its been awhile since I've been on DG.com anyway Just this pass month I've Bought My First LLC , & I'm talking to A Lawyer upon Doing deal's with him & I'm Currently looking for A Good CPA-Accountant .

My Overall Real Estate Strategy Are

*Wholesale
*Flip To Sale Or Rent
*Rent to Own

All using My New LLC I'm thinking of Opening A Line Of Credit with my Bank at PNC Bank Once I get my Paperwork & the LLC is Approved so I Can use the Line Of Credit to lock up deal's & stuff .

I'm excited & Ready Have yet to Kick A deal out of the Park but I think I'm ready.

Hi everyone, so the start of the race begins now...

I want to start looking into agents and which one will fit me like a glove.

I dont want to call and sound like i dont know what the heck im talking about so if you guys wouldnt mind, what would be some of the question you guys would say to an agent ?

As Dean mentioned in his video, i want them (agents) to send me keywords from the MLS such as "reduced price", "as is", "Vacant",

what would be other key words that i can mention, and or question. Thanks everyone for any help and input

There are always people asking the best way to get a buyers list going. And there are tons of other posts about it but I wanted to put something out here. I was at our REIA meeting last Thursday, GET TO YOUR LOCAL REIA MEETING FOLKS!! Ok, and the guest speaker was talking about a buyers list and of course someone asked about creating one. She stopped and asked if there were any buyers in the crowd, about 10 of us raised our hands. She asked one guy how many he could handle right now and he said 3-5. She looked around the room and then told the folks that they needed to start really networking at the REIA meeting, here were 10 buyers that they could have on their list that night!

Zillow values it at 369K and Total View is at 329K.It's listed at 299K,so I think my max offer should be at 279K,leaving a 50K spread.

What do you think ?

Also,what exit clauses will protect me,if it doesn't sell?

Zero down,seller pays any/all closing costs,subject to property inspection/partner's approval
and contract null/void at end of 60 days?

Doing this with a Realtor,so it's a little more delicate.

This will be my first deal,hopefully !

Any suggestions would be helpful,thanx !