Hello,I am new, but learning a lot, and my last post was just like this one - seeking opinions on a possible deal.In my area I found an REO on the MLS for $70K, while other houses that are comparable on paper are listed for nearly $100K and selling.

In the terms of the deal it stats "Paper Transfer" I think I know what that means but I was hoping that someone here might be able to give me a better definition ?

Still searching for an answer.It is the same way here in Alabama.GA and AL are mostly Power-of-Sale states.They do not FILE Notices-of-Default.It is done by publication.In my town they put it in the legal section of the regular newspaper.But (Fulton County) Atlanta has a legal publication called the Daily Report you can subscribe to (I am guessing it is because it would be too big for the paper).

Even with his help, it would take at least a year (probably two) to get something set up that would allow me to pool non-acredited investors.If you stick with acredited investors or, better yet, sophisticated investors, you can get going faster since the SEC assumes that those investors know enough to protect themselves.As John pointed out, if I go that route, don't expect to hear much from me about it.Aside from all the set up, there is a lot of paper that needs to be generated, stored. reported and audited just to prove that you aren't cheating a 90 year old alzheimers patient out of her life's savings.

(This by the way is a classic headline used by dozens of investors- Google it) and yet in my paper today...you don't see it.What kind of a response could you get if you said:[b]Full Market Price for Your House-- Guaranteed.

I'm also interested in learning more about notes, paper and tax liens.I'm looking forward to chatting with you all.Best,Ben Reese

There are also legal issues in that certain changes to a loan could trigger a chance in the liens position (some modifications are in effect treated as a new loan so the recording date moves).The trusts who are holding paper that has lost significant value (mark to market pricing) will be only too willing to agree changes in the trust provisions if the change will significantly improve the value of the asset.

I replace the doors with custom made doors, made of solid wood in many flavors, then I coverthe cab faces with a paper-thin laminate which is made or REAL UNFINISHED WOOD to match the doors.

Cash and paper profits or just cash profits?

With a standard form on standard paper they know what has likely to have changed from one offer to the other.Note that many agents have switched careers multiple times.