I'm being very cautious about proceeding, and I know if this deal doesn't work out, there will be another one available in the coming months (there always is).

Many things can happen prior to the trustee's sale, including a work-out, refinance, note sale, shortsale, white knight, deed in lieu, bankruptcy, etc..; so, I'd make some quick calls to see if the bank is interested in speaking with you about the asset.

Sometimes things don't always work out the way you want, but there are learning experiences to be had and next time you will be a lot better.

If he needs snow tires, let him work out a financing plan with the tire company as that is their business, you take on an unnecessary amount of risk by setting this type of precedent this early on.

Hi everyone,I just completed a work-out on my first pool purchase, and it went very well.

Not all deals work out and if you are relying on a Heloc to finance your deals and one goes bad you could lose all that sweat equity.

You have to weigh how much rehab will this unit take to get rent ready again plus does the timing work out better if you get them out now versus using a service or attorney etc.There are usually eviction companies cheaper than attorneys that handle the filing process and emptying of units.

There is no guarantees in this business, but over time, as long as you buy smart, things tend to work out well.

It will either work out great, or not so great.

Also, research your specific 401k policies to see what your options are regarding loans or withdrawals with penalties so you know exactly what access you actually have to that money if needed.As far as the other condo, is it possible to work out a short sale with the bank and get out of the monthly loss?