The neighbor next to my 4sale has their house advertised for rent in the paper with a bad phone number.

I know seller will look at her on paper like a bank ie BK and crappy score but she dose have a compensating factor of $150,000 in the bank. and no she dose not want to use that to come current just to have the most underwater house on the block.

From personal experience as an out of state investor, I'd say investing in cheaper properties ($50k>), and getting rents in excess of $900/month in undesirable neighborhoods, does not reap the rewards that initially look great on paper.

They usually quickly come around and tell me just to get someone good.I personally use an attorney to draw up all of my papers and close the deal at his office.

Classified Ads in Newspapers – local paper, Pennysavers and local real estate publications (“For Sale by Owner”.)2.

Most tenants do not show up so judgment is given to landlord if papers executed properly along with possession of the property.

In my view, these are better used for paper investments such as notes and lending, which are normally taxed as ordinary income.

Thanks everyone you all make great points.I believe she is milking the situation.A point I would need to clarify with social security is if in fact they would mail the check to the landlord since we are listed for back rent on the papers she submitted or the check would come to her??

We are in multifamily and considering putting a partnership to paper.

I remember reading sob stories in the paper a few years back about people who were being foreclosed on when they should have been burning their paid off mortgage.