Low crime area.Purchase/Repair CostsPrice $180,000DP: $6,500Inspection & Appraisal: $1300Closing Costs: $500 (credit from lender)Repair costs and Labor: $3,500I Recieved a - $2000.00 credit from the seller for repair costs upon closing....

If you can afford a condo, you could afford a duplex or triplex because of the rental income you recieve, live in one and rent one.

After thinking about the best way to work a double close i'm thinking a motivated seller wanted to get out of a property would understand that legally a sale would not take place until they have recieved the consideration stated in the contract.With that being said, I think I could get a sellers to come to closing and sign a deed to be held in exscrow and explain to them the deed legally cannot be recorded until they have recieved to good and valueble consideration as stated in the contract.Then get the buyer to arrive at a later point and finish the transaction pay the seller whats needed to satisfy the contract?

I have recieved information from a few "short sale" companies and one interesting thing that I have seen a few recommend is not putting the house on the MLS until negotiated.

However, in a short sale, the lender must release the property (lien) for the sale to be concluded so that the buyer recieves a deed.

Over the course of my career in Real Estate; I've made a lot of money and I've lost a lot of money.Actually I recieved my RE license in 1963and started part time in a small mom and pop office in a northern suburb ofDenver back then the "Big companies"would not take on a new person.In those days the company owner took8x10" black and white photos and linedthem up in the store front window forpeople to come by and see.( Not open on Sundays) I kept my regular job sellingbuilding materials, because a RE saleswas far & few between & the commission on $5,000 to $8,000 deal (split with the owner) was not very much, but I thought,being young, that this could lead to agood profession, which it did in manyways.

If they would learn to GIVE a LITTLE they could RECIEVE ALOT!!

Recieved 200K offer 3 days.

as part of my marketing ( for rehab deals) i've also recieved a few calls from sellers who owe more than what the house is worth; however not all are facing hardships with payments.

Although I'm pursuing mainly people who have recieved foreclosure initiation from their bank, my question is regardless of what ever method I'm pursuing whether that be probates pre foreclosures lis pendens bankruptcies or divorce etc.