Only thing though U want to do this through title at least pay for a title report when you do a deed in Lu your taking title subject to all things on it.. and there could be junior liens or loans to you.. that if you carry through with the foreclosure they are extinguished.. so do check first.then if that's clear make a deal with the first.. your either going to end up owning it.. or maybe the greater fool theory will play out and someone bids it at the sale and makes you whole.. or you can lower your opening bid to make it enticing. you don't have to start your bid at 1oo % of what your owed.. during the crash I did this often I knew at 100% of what I was owed I would end up owning it.. and having to deal with it.. but if I lowered my opening bid to just get my principal back many times it sold a the sale. and I did not have to deal with it past that..

I feel I should make some kind of move, I've always wanted to invest but after I lost my first home in '09 due to the crash I backed off.

Identify similar properties nearby that produce income as a resident and as a commercial property. use those numbers to do your I=RV calculation, but discount the income to arrive at a conservative number.

Hi All, I just arrived to Austin, TX.

How did you arrive at $461,500?  

@Scott Freer, if it was you who arranged for those figures to arrive at exactly $50k profit (less tax), based on realistic rehab and ARV figures that you carefully researched, to arrive at your maximum allowable offer (MAO), fine.But if those figures were presented to you by the Seller (or agent), not so fine!

I just know we cant sustain that kind of prices increases and its starting to feel like it did when the market crashed in 2007.

- Even if you had the cash to buy on the cheap, was anyone lending- If you bought sensibly and cash-flowing, did you even care because you could carry through the crash- Was the rental market hotter because homeowners became renters, or was it colder because tenants couldn't afford their rentcc @Anthony Thompson

After hurricane Katrina I did a bunch of remodeling work and flipped a house that didn't go great during the 08 crash so it became a rental until i could unload it.

. :)I used to list, negotiate and represent buyers of short sales back in the hey day of the market crash.