$10m might be difficult in liquidable assets but is definitely possible to own that much on paper with real estate values.

But it occured to me it might just be a whole heck of a lot easier to wholesale it (and carry the paper) to him and let him handle all the hassles.

We are also assuming that the paper work got put at the bottom of a stack of foreclosures that are not sold yet!!

According to the Federal Reserve, commercial and industrial loans from banks and short-term commercial paper not backed by collateral dropped almost 3 percent over the last year, to $3.27 trillion from $3.36 trillion.

.- Recycle: demo, paper towels, drink bottles, ect.- Replace the toilet (old toilets use a lot more water!)

If you have a property picked out take photos of it, get the tax docs from the courthouse and draw up your income/expense estimates for the first year and show how you will make it work.Place COPIES of all of these papers in a 1/2" three ring binder that you can give to your banker and leave it with him.If you have a good well thought out plan and good credit you should be well on your way to getting pre-approved for your investment property.

I started by getting a list of preforeclosure sellers from a financial paper in my area, and started sending them letters every week, only about 30 a week so the cost was low.

You can get the same info on pre-forclosures from your local news paper and I found more REOs in my area with local agents and searching on google....for FREE.Jere

We are going to list it on MLS, we have a For Sale sign out front, and have fliers made up, and we will ofcourse put an ad in the paper and hold an open house.

How do I draw the papers and record the info and etc/closing?