i hav a friend whos financing just fell thru on a 200 k loan to finance his salvage operation he has the land and liscencing all wrapped up but needs operating capital and money to buy a scale he has some good collateral if interested kevin

(do you need permits for any of the work - call the town to ask GENERAL INFORMATION about permits and such).k, so 12k in repairs and let's say 12k in closing costs = 24,000now let's just saaaayy, you'll have a mortgage payment, and i'll just throw a number out there to save time and typing = 2500 month (includes PITI)and you plan WORST CASE SCENARIO OF HOLDING TIME - 6 MONTHS= 15,000you sell it with a realtor = 3% comm at 300k = 9,000add it up = 48000 total cost of project soup to nutsso, you buy for 239k + 48,000 = 287,000 sell for 300k...profit = 13kbasic but you get the point - try this: you probably shouldn't pay more than 180,000 for it.

I've come across the term "deficiency bid" and I'm wondering how often would a bank really let this happen as opposed to just buying the property and try to sell it as REO down the road?

hey whats up k, theres a ton of forclusre listing in bridgeport, in the saturday ct post (newspaper). i looked online they have a section for forclosures but none listed tonite maybe the do it satuday like the print edition. http://connpost.kaango.com/feListAds/categoryID/775 , i called on one friday but it was cancelled most have been snacthed up by an investor, also i belong to reality trac and there a ton there also,but not all the one's that are in the paper thats why you have to do both. hope this helps

Otherwise, you could make the same excuse for not investing in stock, 401(k), IRA, etc.

With these methods you can make $3k to $5 k pretty quickly and without much of any risk… Not enough risk worth worrying about.

I have a 401(k) that I can borrow from.

ARV $250K OWES 185K + 20K REINSTATE 10 K IN REPAIRSIS 205K THE TOTAL COST?

Hopefully this will let me sell all the units.Here are the numbers (in k):Purchase price: 655, of which I'm putting 20% down and financing the rest at a 6.5% 3-year ARM.

Is it reasonable for me to walk out of there spending 50 or 60 k?