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

Hi,

Looking for a bit of advice from the veterans here.

In about a week and a half, we will be moving from the Plymouth, Massachusetts area to the Dothan Alabama area to start a new life in real estate investing. Both my wife and I have some real estate background, but this is the first that we are actively pursuing real estate investing with a passion and determination.

I need a buying agent in the San Bernardino, CA area???? If anyone out there happens to be a RE agent or knows of a well qualified, very efficient individual, who does not have an "AXE" to grind with investors.... Pls PM me ASAP... I have a property I need to purchase!!! Thanks!!!

One thing I took from the book that has stayed with me most likey has to be the motivation is has given me. I have narrowed my search for properties within a given area, and have been focused on ROE's within a given price range. Do you think it is an asset and a gain to you if you can lock up a 50k ROE house 20-30 percent under the asking price, and find a tenant to pay you your mortage rate and a little more. In the long run, the price has to somewhat go up right, so you are looking forward to a profit?

Hey all.

Just thought I would share my thoughts with you. Maybe it is out of place, but I think that at one point or another all of us (including yours truly) have doubted our abilities.

Every night, when my children go to sleep, I get on the computer and get on this site and look through the posts. This site is very addictive, don't you think? Anyway, yesterday, I had a lot of disappointments and was pretty much ready to give up. Tonight, as I was putting my son to sleep, I started thinking as to why, after investing so much time and money into this, why would I just walk away.

So I've started my search for properties. I decided to give the Penny Saver a try and searched for properties using key words such as "motivated". I've opened up my options to Las Vegas, as well as Los Angeles where I live simply because a lot of properties in my area are in the neighborhood of $300,000 and up.

One property is listed as a foreclosure for $108,000. It's located in North Las Vegas. Its 4 bdrms, 2 ba. and was built in 1997.

From what I can ascertain from Yahoo R.E. Home Values the same size home sold for $220,000 in 2008.

Hey DG Family,
When I was researching REO's with my bank I stumbled upon this REO directory website
http://www.thedirectoriescompany.com/reos.htm

It lists banks and government agencies REO for the United States. It's worth looking into.
Enjoy,
Kat

I am trying to break into the world of real estate investing. But I am having trouble getting the idea of assigning a property. I answered an ad on backpage.com that took me to this website: www.pahouseguys.com.
They responded to my email telling me they are interested in Wholesale Property,SFR.
What does SFR stand for?? I am under the impression it means "Single Family Room". Is this true and if so what does that mean?? Dioes it mean a studio??

This site has a wealth of infomation but it taking time to digest it all.

Thank You All,
Mark

I know a lot of people on this forum are making multiple offers throught their agent on properties listed on the MLS. I just spoke with my first real estate agent today. I am planning to make offers on a few properites that are listed on the MLS. My realtor said that she would need a copy of a $1000 check made out to her office and also my mortgage pre-approval letter. She said that she needs this so the other agents will take our offer serioulsly. I know this is standard operating protocol with retail buyers. Is there any way around this? What should I be telling my agent?

Going through online "paperwork" today I noticed that one of our lenders had a special section directed at those who may be selling their homes. I had been hearing that assumable mortgages were a thing of the past. This is very interesting that the lender themself would be promoting such a thing. Anyone else seeing this recently??

****************************************************
FROM CHASE MORTGAGE:
Loan Assumption

Selling your home? Having your buyer assume your mortgage may be right for both of you.

Request a loan assumption package

Im abuot to buy a 150+units commercial REO 85% occupied
for a grate price,out side of geting a management company and making shure the building pays fore it self
with good cash flow what else I need to know or what do
I look out for?