Matt,The banks and trustees need to know that you have the means to do what you want to do.what I mean by that, is if you have proof of funds, and time is short,i call the bank and trustee and fax that, with my tentative offer or plan,and if needed i conference in the homeowner on those calls.the bank's last desire is to get the property back, and I've stopped the sale at minutes before the end of the day just before the sale...get a letter for proof of funds, and know you have a deal,and stay aggressive...these lenders are so overwhelmed with 'investors' that don't appearor sound believable, that sometimes their only change of demeanor will come by showing them the money...stay focused, and don't quit...

FL and is always conducting real estate seminars on options.Good Day!

I remember some moons ago I went to Jeff Kaller's one day teaser seminar at the hotel conference room (sponsored by local REIA).

If there are no bids higher than the opening bid, the property will be purchased by the attorney conducting the sale, for the lender."

There are issues of self dealing that can apply if that new collateral is not as sufficient as the prior collateral and frankly, I doubt many brokers or investors address the issues as they are usually leaning toward conducting business in their own best interest.

I wanted to report back about my experience at this conference.1 - My session went very well.

It's plain and simple, he's conducting work within the scope of his company's business charter or operating agreement.

The most important factor is the time spent conducting business.

If there was a Hall of Fame for investors, Lonnie would probably be in it.It's too bad too that so many following this scheme did so as preditory dealers to the extent of having federal legsilation adopted to restrict the practice.I guess the best way to proceed is to make enough on your fist few deals, maybe sell the notes for cash and pay the fees to become a licensened mortgage originator and a dealer, otherwise you'll be limited to conducting business.BTW, Another similar "system" involves selling land, if it's zoned residential or can be used as residential raw land, it also falls under the SAFE Act.

Just as informal and awesome as the conference, meet up over dinner or happy hour and just talk about whats going on in CO and go from there.