Residential REO volume has gone down significantly because of the ROBO fiasco and doing workout loan mods in pre-foreclosure and short sales.There is a difference between a commercial OREO broker and a residential REO one.Residential many REO asset companies have just a few assets trickling in for the amount of agents that have applied.So these companies charge computer platform and system fees and mandatory training sessions and bilk the agents out of what little cash they have.The net 45 days is also not true in many cases.They are supposed to pay in 45 days but many times delay payment for 2 months or longer.This makes the banks or asset companies float interest free loans using and abusing the reo brokers/agents.Then too add insult to injury they take a 1 percent fee off the top with only a 2 percent payout afterwords.Sometimes the bank will start the listing price high even though the listing brokers opinion doesn't agree with them.Then they re-assign to another agent and take a mark down and you are still chasing the bank to pay you the costs incurred with the listing.What you don't have on the reo listing side is CONTROL.Some of the big REO companies HAVE TO sell hundreds of properties a year with volume or they actually LOSE MONEY.For this reason many of my friends have gone to the pre-foreclosure side which is what I work on the commercial side more.Since I work with the borrower the bank has to deal with me to close a transaction versus trying to get into a "good ole boy" network where a company might have a 50 year relationship with a bank already.You can't focus on what you can't control but just take advantage of the opportunities that present themselves and capitalize on them.

This was one of the "loopholes" I found.My question is - Will this all be possible, roll my employer sponsored 401k into a regular ole IRA, set up a roth IRA conversion ladder (takes 5 years), Sit back and drink fruity drinks on the beach. 

For Seminole auctions it's still done in the court house, but there is a group of guys I refer to as "the good ole boys".  

If you buy just any ole property, you could end up spending a fortune on your 'investment'. 

I'm from good ole Fort Wayne.

Jay, can I borrow you're chain saw to whittle out one of those logs for ole Boyd there?

Working on my first deal in Chicago and the ole "well you never done this before and this is your first one" issues when talking with lenders. 

Here is where I would go for the good ole fashion boring rental property that you can slowly build wealth, preserve it, and can retire on.I like the areas following the 35 corridor because of the growth towards Austin.

I thought this forum was to help each other out in our prospective careers not to be bullied by the good ole boys if they don't agree with my stance.

I don't like someone feeling like they were part of the ole bait and switch.