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

the home is in north west indiana (chicago suburbs). 2000 sq ft bi level on an acre in schereville indiana. the home has been listed for 141k since august 08. one contingent buyer backed out due to unknown issues with home inspection.
dont know where to start on an offer based on the known.

I found a real estate investor who would pay me finder fees but I think he wants me to negotiate the deals. I'm hesitated to call him because we wants me to do what broker's and rel estate agents do. What should I do?

What a deal this lady got! Maybe someone who lives in that area can make contact with her and get a good deal. It looks like a cute house.
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SAGINAW, Mich. - With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.

"I am going to try and sell it," she told the newspaper. "I don't have any plans to move to Saginaw."

Here's a great article by Vena Jones-Cox. It is a major regret of my youth that no one ever bothered to tell me that working for a living
was a drag, or that depending on a job to make you rich was a fantasy.

I guess I was aware on some unconscious level that my dad's real estate investor friends were able to go to Europe for months on end while my friends' parents--even the ones with great jobs--were lucky to put two weeks of vacation time together each year, but I always

Basic Elements: Checklist

Phase I: Pre-bargaining Phase
• Information
• Leverage
• Issues
• Rapport
• Goals and expectations
• Type of negotiation
• Budget
• Plan
Phase II: Bargaining Phase
• Logistics
• Opening offer
• Subsequent offers
• Tactics
• Concessions
• Resolution
Phase III: Closure Phase
• Logistics
• Closing checklist
• Emotional closure
• Implementation
Negotiation Checklist

• Confirm with other parties (and mediator)
• Confirm logistics with client
Pack:

Rule 5: Closure

Rule 5.1: Don't blow the end game.
Master Negotiators know how to close. They consider every element of closure: when, where, documentation, pending issues. Novices either rush the end game or delay it interminably, with equally bad results. Rushing the end game usually means slapping a contract together with little time or thought; its ambiguities and deficiencies inevitably result in disputes. Delaying the end game means failing to "strike when the iron is hot"; if you wait long enough, something will happen to prevent closure. Time kills deals.

Rule 4: Evaluation

Rule 4.1: Look beneath the surface.
Novice Negotiators focus on facts, or dollar amounts, or legal issues, or personalities. Master Negotiators understand that every negotiation is a combination of these factors, as well as others.

Rule 3: Planning

Rule 3.1: Develop a flexible negotiation plan.
"I am convinced that you need to approach each negotiation with a well conceived game plan." 26

Master Negotiators develop strategies for each phase of the negotiation process: opening, middle game, and end game. Like master chess players, they come to the table knowing how they are going to open. They understand that, from there, strategies have to be flexible because how their opponents respond to opening offers is unpredictable. Nevertheless, they plan ahead as much as possible.

Here is a list of loss mitigation numbers you can use to work out Short Sales on properties. Keep in mind some of this may change based on the change in the financial markets right now.

ABM AMRO Mortgage (800) 783-8900
Web: https://www.mortgage.com/C3/application.bus

Accredited Home Lenders(877) 683-4466

AMC Mortgage Services (Also handles loans originated by Ameriquest and Argent) (800) 211-6926
1600 McConnor Parkway
Schaumburg, IL 60173
Web: https://www.myamcloan.com/malwebapp/begin.do

American Home Mortgage Corp.(877) 304-3100*

Well it it about time, my journal is now on the go. Maybe this will start the ball rolling. It has been a little over a month, I purchase DG's Millionaire book. I have joint the REI association, received a congratulation e-mail, but nothing more. I will research some clubs tonight in my area and attend as much meeting as possible. I feel stagnated and I am anxious and ready to make a break. The real estate market in New York is difficult to purchase property.