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

Hi DG Family,

I read server topics involving becoming a middle-man between investors and sellers.
After seeing that doing this type of transaction was illegal in several state I decided that I should do some research for my own state to see if this is viable.
I found out for the most part, unless a state includes specific exemptions to federal law, it is always illegal :l
But, from what I can understand (and my state law seems to agree with this) doing this is only illegal if the investor (the true buyer in this case) is NOT licensed as is the person doing the leg work.

Can someone explain to me in "laymen" terms what is a "flex-option" and how does the "option" work? Thanks!

I want to buy an REO and keep it as a rental property.

Yeah, that's right... I have been reading and posting on the DG site for over two years.... I finally decided to jump in the water with "both" feet... I can't say I know everything I am doing thus far, but I learned from an experienced investor... "... the only investors who make ANY $$$ are the one's who make OFFERS".... Well, I decided I want to make some $$$ in 2009....

I'll keep everyone posted on my SUCCESS!!!

My real estate agent is telling me that no one will accept an offer without an approval letter.

Does it work differently when making offers on foreclosures and HUD homes?

Regards,

Ben

Hello, I'm new to the forum and have just started reading Dean's first book. I've been attempting to get my first deal for quite some time with limited success.

The property have 4 bedrooms and 2 bathrooms, fmv was 141k while seller asked for 149k which reduced from 159k. There is new construction going on in this area. She uses va loans, and cant do lease to option or deed or anything. What do you suggestion?

Does anyone know anything about them? I have a contact with a banker who is in charge of packages of them. He has newer commercial and residential properties in nicer areas and in many zipcodes. He'll let buyers pick out the types and condition of the properties they want.

He requires a minimum of one million with no maximum.

I don't know what to do with that connection, but if anyone knows what to do, let me know and I can get you in touch directly with the banker.

Has anyone heard from CBRPOWER? I have not seen any post from him lately.