I'm not legally old enough to purchase property, but I'm sure I can work out some deals under my parent's names.I'm very eager to learn and I look forward to meeting everyone on this site and making my first deal.However, I'm not sure where to start out.

Shirley,Welcome to BP.I hope you investments work out.

I got here from searching to learn about foreclosures, flipping, and REI in general.I have been researching my area and wanted to get opinions on this deal:House: Sold in '02 for $200KWill be auctioned for $135K min bid (appraised 200K).I am interested if this sounds like a good deal or not.Here are my questions:1) Is it too late to contact the current owner and try to work out a settlement ahead of the auction?

Then you are a creditor secured by a lien on the property.The person owing the money could also try to work out a settlement where they make a partial payment in agreement to have the lien released from one property.

That's not too far below his ask of $375k and a fair ways above his floor of $300k.Sorry this one didn't work out.

Yeah that was some fine work that you did (maybe you should start your owne rehabbing company that might work out real well for you, in consideration to your work!)

Maybe they can offer you some sort of workout program.

If it doesn't work out on this one, it would be nice to know on the next one.

Yeah I have a subject to I am working now as well.....owners are 6 months behind on payments so I figure it should work out well for a subject to.....at least thats my plan

Since things rarely work out exactly as expected, $32,000 plus or minus, is a better estimate.If you overpay at $185,000, you're likely to lose $30,000.