I was scared to venture into the Foreclosure market but I just finished this wonderful foreclosure investing Course... so now I really ready to get my feet wet.

I live in south Florida and would like to build a portfolio of rentals down here before venturing out of state so I can have experience with the business before trying to do it absentee.While trying to tweak the 50% rule for my area (taxes and insurance are higher) I noticed how hard it will be to meet.

If anyone has any good information on this type of venture it would be greatly appreciated.

Unfortunately, I don't think there is a way to manage an asset with a "joint venture" feeling when it comes to property management.Good luck though.Sincerely,Dave

I would venture to guess that very few investors use this strategy.

Re: the other tools that members receive, there is a remarkable opportunity using private investor money (REIT's) to joint venture the purchase of REO/short sale properties at 50-55% of FMV, and re-sell to retail buyers at 85-90% of FMV.

If not you could assign your lease option, or do a joint venture / Cooperative agreement with the home owner.

Your background at the housing authority should be able to help you some as you venture forward.Without a doubt educating yourself is be single most important thing in my book.

Better to Give a Contract For Option to Purchase and a Lease to avoid Equitable Interest.41, Joint Venture with owners - sellers on Lease Purchase on Nice Houses that do not cash flow.

You can bring other resources to the table to potentially do some joint ventures with other investors.Things like:- Time- Credit - Connections- Leads- Knowledge..etc...As to the WCRT, check out the site.