It's a nerve wrecking process sometimes but I got a house in central jersey for the price of a new 3 series BMW! 

Where it gets a little nerve-wracking is if the first lien position holder chooses, they can set the minimum bid price, which typically includes their lien, legal fees, delinquent interest and whatever else are reasonable costs they are trying to get back as a result of the default.

Also, if I don't give them the address etc - doesn't that reduce the likely hood that they will purchase if they can't examine the merchandise so to speak.

To use the Examiner's example, if I were selling a car to a used car dealer and as I was selling it to him for $1000, there was someone in the next room ready to buy it immediately for $1500, would I want to know that information?

I have finally had the nerve to create a profile, which I should have done from the start.Like I'm sure many have felt the minute they began to surf this site, I was just lost for words the amount of useful information on BP.

It's nerve wracking to see some people jump in to deals that aren't as good as they appear because they didn't take time to learn.Here's some good stuff:The BiggerPockets Ultimate Beginner's GuideThe 50% Rule: How to Quickly Analyze a Multifamily Investment PropertyEnjoy!

The only real estate experience I have is passing the real estate exam in New York City back in 2008.

We have federal and state (cali) bank examiners here on BP, what has been put out about banks is not totally correct.DL, I stopped reading half way through as you continued on making an assumption.Loan seasoning has to do with the market value, plus hard costs of improvements within a market term.

They didn't want to bother me, so they never said anything.Anyway, a couple of months ago 1 of the guys collapsed with a heart defect and supposedly during some examinations they said he had a little mold in his lungs.

I clicked in the Knoxville section and saw the gang reference.It is disgusting that someone (BP member) has the nerve to market a house in that area with the reference "quiet dead end street" and "nearby park."