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

taken FROM CNN NEWS

The Senate's version of the plan sweetened the $7,500 homebuyer tax credit provision proposed by the House, doubling it to $15,000 or 10% of the home's purchase price (whichever is lower). What's more, the credit applies to all buyers - not just those purchasing their first homes.

Well here is my story: I got a call from a woman I sent a letter to telling her what I do. Her house is in foreclosure, she had been paying her relative and thinking that he was paying the loan but he was pocketing it, now she is in foreclosure. I'm not sure what she can do to save herself but she said it looks like she's going to lose her house. She owes $77,000 and the property is worth about $560,000 (that number is from the county website's "actual value as of Jan 09"). She says she has put about 200+ thousand into the house.

Do not know what to do !!
I have not long started Deans Course, and have no idea how to even go
about a 'commercial property' deal. I have not yet accomplished a sale
and have only just started putting the business together.. So, here's the
'Challenge'..

I have (accidentally) found a commmercial property of 7.2 acres, slap bang
in the middle of a rapidly developing city. It has one empty office building with 14 offices and car parking lot. It's in a very beautiful part of town and borders a huge 'Blue chip'
company one side and a very well known college the other side.

Do any of you here have a RE license? I know it is not necessary to invest in foreclosures but do you think it would be beneficial to have one? I think I can take about 6 weeks of classes and then be able to take the test for the license. I think that it would be very easy to get a job part time or full, because you work on commission. It is not too expensive to get a license, not much $ to renew every 2 years, and I would have access to MLS which would be great. Just curious, what does everyone else here think? Jeremy

Hello,

If you are in TX, can you please let me know if you have successfully used the Instant Equity Exchange technique to generate quick cash.

If you have done deals in TX using this method please let me know what your experience(s) were? Who was your seller and buyer? How did you locate a closing agent, real estate lawyer and mortgage lender (if necesary) to assist you in this process?

Hey everyone. I'm having a hard time with all of this. I know what I'm doing and know how to do it but it's not working. Maybe I'm missing something or not doing something correctly. If anyone can help me out please feel free! I'm having a huge money battle right now, I'm maxed out in debt and no one is hiring!!! I need a deal to work for me.

What I really like about investing in short sales is you will not risk ANY of your money and have virtually zero liability. That's because you can use the the Option paperwork. You simply secure the option to buy the property sometime in future (usually 6-12 months) and you only risk a non-refundable deposit that is usually about $10. You need to see what is considered "consideration" in your state. This is usually less than $100 for almost all states.

Hey everyone,
I've already talked to some of you via PM and I greatly appreciate the advice. It's so reassuring to be able to talk to people who have experience and are comfortable with REI. I greatlu appreciate it!

I just started out, using the "fake it till you make it" approach and things are starting to move. I decided to go the wholesaling/bird-dogging route to get started. I've found a list of four investors who do assignment fees and want to work with me.

Well after reading dean's book, I learned you need to be creative in your own type of ways. And I been studying how Assignment deals work for quite some time now. And I think I found something better to do rather than taking control of a property yourself to assign to another buyer.