Knock on doors, leave flyers.

Direct mail, door knocking, and calling, all to people who have had the NOD (or whatever its called there) filed.

I agree,Dan you are knocking them dead.

More forclosures coming in every month in that size and price range and getting financing for those babies limits the number of customers knocking on your door.

Lately it is the school of hard knocks for even the really experienced guys.

"New" doesn't mean tenants won't break things, make a mess or knock holes in the walls.

Would it be an even better idea if I could get the house really cheap, knock it down and build another larger house in replacement?

In other words, if the loan balance was 100k more than current value they knocked off 40K and 35K respectively.

just stop making payments; it will take them 3-5 months to initiate foreclosure ( it starts with " notice of default"); but in the meanwhile congress will passs the BAILOUT; then uncle sam will buy your " toxic" note for something like 30 cents on a dollar; after that - most likely - uncle sam will " modify" your loan ( how'bout zero interest plus knocking off 65% of principal - would'n you make that kind of payment ?)

Sometimes you just have to write off a hard knock as a lesson for the next time.