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

Here's an interesting article (link below)... you have to stay informed about the cities you're buying into; do your due diligence before you buy that 'great deal'.

http://www.forbes.com/pictures/mhj45gmhf/cities-where-home-prices-are-fa...

I found this article on DSNews.com...

Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale. 

Real estate agents will now submit offers online on behalf of clients, receive receipt confirmation, and track the status of submitted offers through the HomePath.com website. HomePath is the GSE’s REO disposition operation.

In November 2010, Fannie Mae launched the HomePath Online Offers pilot in Orlando, Florida; San Diego, California; and Detroit, Michigan. Active Data Technologies, Inc., the developer of the offer platform, commented just five months after the launch that the technology was seeing positive results in these three test markets.

anyone here interested or know someone that wants 2 vegas properties?...contact me for further info

below is a good article about the costs of fix and flip that we may not be considering?

The True Cost Of Flipping Real Estate

When it comes to flipping, new investors often get burned by their mistakes.

Since the housing market crash of 2007, the government has tried to protect consumers from buying homes at inflated prices. One policy that was quickly enforced was the FHA “anti-flipping” rule: no FHA financing on properties that had been bought, renovated and marketed at a higher price within a 90 day period.

I have a short sale lead and i dont know how to handle this process eventually i would like to get into theese but I dont have the money or time to handle this. How can i pass this off to the right person? can I can I finders fee for the lead??

Can someone tell me how to assign quit claim deeds? Thank you so much for your help

Hey guys I just wanted to ask if anyone can help me get around the way to lease/option a deal in Texas. I understand that in Texas you may only lease option up to six months, so I wanted to know what the tricks are to get around it. If anyone can give some advice it would be much appreciated. Thanks

Hello DG family. My question today deals with locating pre-foreclosures. I'm pretty sure I get my information late when I see to listings in the paper for notices of default because when they are brought to my attention there is only a few weeks at the most before the foreclosure date, if not a couple days. Is there anybody out there that can help me with locating these properties as early as I feel other investors are? All help is greatly appreciated.

SO here is a question, once i set up a buyers list and have a solid foundation of potential buyers and a list of houses that have great investment potential, would it be wiser to either contact the buyers first and lock them up verbally with a potential property first or actually get the property in my name and clean it up before i contact my buyers?

*reason for wondering is i am afraid i might not be able to fill spots in my homes while they are in my name.

*most of the properties i have on my list are either, foreclosures, pre-foreclosures or REOS.

I have actually bought and sold properties that match some of these "don't" do properties in this list. This applies to fix/flip properties. Some of the down sides here COULD make for a decent buy and hold.

I think most of the time these ARE house types you want to avoid. That way the house you buy will appeal to the largest percentage of buyers.

Wholesale or fix/flip property types to avoid:

1. Small houses less than 1000 Sq.Ft.
2. Small master bedroom of less than 12x12.
3. No busy streets.
4. No war zones or bad neighborhoods.
5. Functionally obsolete layouts and low ceilings.
6. Houses with no garages or off street parking.
7. Bad lots - steep grades, weird shapes or flood zones.
8. No commercial or mixed use property areas.