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Yeah, I guess I overlooked that thinking I'd need to get a hard money lender after I have a deal. I got in contact with someone and he said he'd call me back later today. I am in San Diego, CA by the way. I found a script in one of my Conti books that I could use to gather up different hard money lenders.

So I saw this property that looked like it just needed some new paint and clean carpet. I spoke to the realtor for the property and decided to offer $305k. The bank has it listed as 448k. Comps put it at 450k-485k. I noticed that the realtor listed me as doing conventional loan (on the purchase agreement) so I called up the lender and told them I wanted to do all cash.I havnt signed the addendum yet. And now he's asking for credit report and 1003. I'm looking for a hard money lender to help fund but my first 2 declined me. What tips does anyone have for me w/ trying to find funding or should I drop this deal?

Do hard money lenders prefer an appraisal?

I don't have any investors lined up yet. I would like to see if my negotiations with the bank will work because I know there is already a team ahead of me that already spoke to the owner. Basically, these guys are trying to help her by refinancing her loan but they will see that the they may just do a short sale as well. I just have to negotiate better and beat them to the punch.

well basically, instead I just had the owner sign a "authorization to release information" form so I could speak to the bank. Looks like I am going to work towards a short sale

I am meeting with someone who is going into foreclosure. After I talk to her, how would I make sure another buyer comes in to take the sale? Is this done by putting the property under contract? Would an Option Agreement work? A contract saying something like, "The Buyer has right to purchase the property within 30 days of date of this contract and additionally can assign this contract to qualified buyer meeting all terms and conditions as required from Seller. Upon non-performance of Buyer to exercise this option no remedies cumulative by either party will be applicable and earnest money will be fully refundable to Buyer."

I was thinking about using a realtor to get comps but I wanted to know how I should approach one? When they answer the phone how do I make sure they have worked with investors before? I dont want to say, "do you work with investors", because I know they will just say yes. I want to be able to work with someone who will actually work with me.

Today I thought about doing the latter. I thought about creating an excel sheet that contained the address, square feet, number of bedrooms, baths.. what else should I note down when looking at other properties?

To get comps do I just go to a realtor in that area and ask them to pull it for me?

Had someone call me and provided me with this information:

5 bed/3ba
tile floor
ocean view
roughly 3k sq ft

There is a 1st Mortgage of $576k @ 6.5%
2nd of $108k @ 9%
He also said they are 5 year arm

Other notes are that he said he put 35k into the property.
His motivation for selling: Him and his partner take a hit on the commute to work. Says property is too big for him and his partner because it is just the two of them. He said he was realistically expecting around $569k so I used the range technique and said "So $560-570k?" and he agreed.

I havn't ran the comps yet. Should I do so with a realtor in the area?

When flipping I hear people say to get the property under contract so you can sell it to another investor. How exactly do you get the property under contract? Is it simply a piece of paper stating the seller cannot sell the property to anyone else?