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

One of the first if not THE first question you should be asking yourself is: What is my exit strategy?

If I buy/lease/control this property, how will I get paid?

The days of Carleton Sheets/Bob Allen/Get into the property at any cost, any way because it will cash flow every month and appreciate at 5%+ a year are LONG GONE.

This means that you need to do more due dilligence BEFORE signing up a deal. A motivated seller is a required BUT NOT SUFFICIENT condition.

will the bank accept the lower offer w/ assignment on it?

if they don't than how can we do it w/ an exit clause to make accept it?

please help thank u in advance.

Today I spent an hour or two in the library. I looked at tons of newspapers in search of finding investors. Today my buyers list started off with 1 investor and now it has 6. Im working on assigning a contact on a property I found today. I found a 3 bedroom 2 bath no garage fixer upper. Correct me if Im wrong but the golden part about this deal is that its 125,000 for 14 acers of land and the house. The owner explained to me his wife dies 1 month ago and he wanted out of the house mainly for that reason.

I’m trying to fully understand what it means to lock up a property when assigning a contract. I’m sure of myself that it means I have to sole right to buy the property and then I just assign it to someone else. But do I have to pay the home owner money to lock up the deal? When I have the sole rights to buy the property does that totally stop all other buyers or is there a way someone can get around me having the property locked up? Also is the deal voided if it takes too long for my investor to close?

Hey Guys.....Just wanted to get some opinions on what some think the "BEST" way to purchase this property is?
(I know what I think is the BEST, but I want to see what everyone else thinks..) So, Here's the Deal:

Radical cheap: $1,000 homes
Les Christie, CNNMoney.com staff writer
Thursday January 8, 2009, 12:31 pm EST

The real estate market is so awful that buyers are now scooping up homes for as little as $1,000.

There are 18 listings in Flint, Mich., for under $3,000, according to Realtor.com. There are 22 in Indianapolis, 46 in Cleveland and a whopping 709 in Detroit. All of these communities have been hit hard by foreclosures, and most of these homes are being sold by the lenders that repossessed them.

Hi Jason: I understand your point but I have been making offers weekly in this marketplace for both investment properties and owner occupied properties and I have yet to see one that has sold in the San Diego area for that much under market value. The competition for the properties is just too fierce in the San Diego area. Can you blog and ask if anyone has accomplished this in the San Diego area and how they did it?

I didn't see a search function in this forum so I'll just ask...

What websites do you use to get info about potential properties and why do you like them?

So far, I haven't found a local city government that has tax/home info online. I guess our cities (Albany, Troy, Schenectady) are too small or our government just doesn't think it's a necessity to put the info online. I wish they would though!

I had seen his infomercials and never acted on it because I figured he was a scammer like most of the other infomercial people.

I decided to google his name and was pleasantly surprised that he had a pretty good reputation. He even was addressing complaints from customers on ****report.com I thought that was very commendable.

I bought his real estate millionaire book on ebay and received it a week ago. There's a lot of good info in that book. I'm still reading it.

I am in college right now and I just started the one on one coaching course that Dean offers. I don't have a job so I am curious as to how this will affect me being a real estate investor. Will it hinder me from getting the money to purchase a property?