I'M LOST!!!

[Todd Gustafson]

Hi everyone,

Here is my situation:
I studied real estate investing some a few years back so familiar with the terms. I didn't pursue it because of divorce and an unexpected career change. After living with family the past few years, finishing college, and paying off some of my debt (working on the rest), and landing a new career (possibly even a 2nd which has more promise) - I need to move out in December. I'm 35 and the past few years have taught me A LOT!

When it comes to REO, this is in reference to a property owned by the bank. Am I correct that it is that simple? This is not necessarily a foreclosed home, correct???

In addition, do I simply go to nearby banks and ask for a list of the properties they own? I make a modest salary but with the new career will likely stay in the same area for a while; therefore, I'd prefer to buy than rent. I need something very inexpensive. I'm single and my daughter lives out of state so I can get away with a small place.

I'm trying to paint a picture for everyone. Would making offers on REO's be the best shot at landing a great deal? Is locating and purchasing the home by December realistic?

Any help, direction, or advice is greatly appreciated.