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

I have seen alot of info on wholesaling houses, but what about commercial properties? Is there anyone on here who specialize in million dollar commecial properties? We need to think BIG. What is the typical earnest money deposit for million dollar commercial properties?

Well I did it, on 12/21/08, i made an offer on my 1st deal. It is a 3 bed 2 bath 1229sqft home in the neighborhood where i grew up. Was a REO and the asking price was 115k. the house needs alot of work so I ran the numbers and came with an offer of 80K. I figure I can either assign the deal to an investor I know for around 100k or I can fix it up a little on my own and rent it out and cover the mortgage payment and have some cash flow, then sell it when the market changes. Either way i am happy I took action.

Okay, so I have done looking around for foreclosures(in NY) and I realized that most if not all foreclosures are located in a bad and poor neighborhood. So my question to you all is this, does location still matter if the deal is good? I understand that the location is built into the price of the property, but should I break out of the REI creed of "location, location, location" and buy cheap properties at a bad neighborhood?

What would you do?

9 Key's To "Short Sale" Success
By: Glen A.
Submitted: 07:18AM on Thursday 21 August 2008
The author has permitted the reprinting and redistribution of this article.

Do to the credit crisis foreclosures have been on the rise since 2006. If you’re doing any marketing whatsoever you’re going to run into sellers who are facing foreclosure. You must know how to do short sales in order to take advantage of this ever growing market. There are huge paydays if you understand and know how to get short sales completed.

Is anyone having problems with their buyers for their wholesale deals or is it just me? I have 8 buyers that were all very interested in my property and alluded to me that my numbers on the property were excllent, but none of these buyers have stepped up to the plate to buy the property. I think they are scared maybe with the economy news, etc. One of the buyers told me that he had too much on his plate and another mentioned that he had too much going on.

11Multicorp Inc.
HML Loan Type Residential and Commercial
Lending Area AZ, CA, NV, OR, WA
Contact Mike Goldstein
Address 2010 Crow Canyon Place, Suite 410
City, State, Zip San Ramon, California, 94583
Phone 925-275-9810 x222
Fax 925-275-8181
Web Site www.11multicorpfinancial.com
Email [email protected]

1ST American Secured Capital
HML Loan Type Residential and Commercial
Lending Area AZ, CA, NV
Contact TJ
Address 300 West Grand Avenue, #300
City, State, Zip Escondido, California, 92025
Phone 760-802-9630
Fax 760-546-3001

quick question about short sales if anyone could help. So I am looking at 2 short sales in my area and one says short sale approved by bank 449,000. So can I offer a lower price or is it locked in at what the bank has approved? Or is this clever wording to make me believe I cant put in a lower offer??

Second is this..what does he mean 50/50 commission split???

Hi Everyone,

has anyone ever bought real estate from owners who Filed chapter 7 or 13? how does that work?

is the guy who has filed bankrupty still the owner of that house?

thanks peeps and happy hollidays

Hello,

I am going to make an offer on a REO, but the agent sayes I have to have proof of funds. Does this mean I actually have to have a loan approved or can I just be pre approved with a loan in the works? I am also think of possibly assigning this to an investor and making a profit that way. any suggestions would help out alot

bill