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

I'm atending my first REI meeting tomorrow night. The meeting is about Buying REO's, Short sales, Auctions and Expert agent advice. I hope too meet some new investores in my area.

Hope it is worth the $100.00 a year member fee.

I can bring a friend also if any one is around the louisville Ky, area for and additional $20.00. Just let me know.

Thanks Frank,

how does an agent get paid if she sends me an expired listing and i manage to get one under contract?

IF anybody wants to partner on a Deal in Emory, Tx
Please PM me, I have the seller, "motivated" but I live in El Paso, and would like to birddog the deal to a Cash Buyer!
Property Info: 3/2/2 on 4.42 acers of land
They will not move from their 98k Sell Price.
Comps=111K
From pics, when they had it with realtor are nice.
No Repairs, except for a new AC and maybe a roof.
Owes= 45K

Thank You all,

A resource I learned about from
Susan Lassiter-Lyons that allows you to research a bank's
REO properties online.

If you don't think you can do Bulk REO because you're
starting with no money, or bad credit (like Susan did), or the
thought of Bulk REO scares the crap out of you, it's ok.
video
http://buyingbulkreo.com/vsl-main/

Bulk REO Process Map (attached)

Hey everyone, I wanted to stop in and give an update on my recent flipping success. This is where I'm at as of this week...

I have two properties cashing out on the 23rd of this month. house one should profit approx. $23,000. House two should be approx. $20,000.
I have another that is set to close and cash out on April 19th, it should be roughly $28,000.
The fourth I am currently working on with about a week and a half to go, but I already have buyers that are ready to sign a purchase agreement and they are not fha, and they want to close by the end of April... this one should profit approx. $20,000.

We closed today on that REO that was with Hudson & Marshall. It was a long battle back & forth with many offers & counter offers, but we finally prevailed.
The bank painted the interior & installed new carpet
so there is only minor cosmetic repairs left, around
$ 2,000. It is in a neighborhood of 80K to 120K homes,
but we'll sell it in the mid 50's.

Are Fannie properties out of the question for wholesaling? The way the standard deed reads is that you can't sell the property for more than 120% of your purchase price within the first three months from the date of the deed. Also no encumbering the property with a security interest in the principal amount over 120%. Does this mean you just have to double close and does it effect your buyer in any way. Theres not going to be a 120% profit. So does that make it OK?

This article talks about how there will be a rising tide of foreclosures coming to the market. The slow down was caused by the "robo signing" issues and banks having to look into their forclosure process. According to the article it looks like this issue is being resolved and banks can start moving forward to foreclose on properties again.
http://money.cnn.com/2012/03/15/real_estate/foreclosures/index.htm?iid=L...

I am expanding my buyers list. If you are interested please PM me and let me know what and where you are buying.

Therin

Good morning, DG family. Is anyone focusing on the Fanwood, NJ market?