Also a newbie, but have quite a lot of experience in the business world, albeit in the UK (I have lived in London for many years, started and sold two companies).My main goal when arriving in Houston is to find ways to source quality leads, not just through networking but trial and error via marketing.

I haven't called him back yet, but will, to try and find out more.....BUT, the first would seem the biggest stumbling block.I did a lot of negotiations in a prior life, including as a settlement conference judge and mediator, and was pretty successful in getting people to recognize the financial disadvantages of not resolving their disputes instead of going forward (in those days, to jury trials), but the lawyer for this lender seems uninterested. 

Investment Info:

Single-family residence other investment in Haw River.

Purchase price: $48,000

Cash invested: $6,000

Sale price: $85,000

Absentee owner, distressed property, bought sub 2 giving ...

We are nowhere near a workout of residential foreclosures.Nationally banks have 300,000 residential reo's with another 700,000 bank owned but not yet listed for sale.About another 1,500,000 to 2,000,000 residential properties in pre-foreclosure that are short sales or are just 30 days behind all the way to having failed trial loan mods.Most of these properties will be foreclosed as they work through the system or failed loan mod to BK to eventually foreclosure.So in my opinion we are about 3 years away to work through most of the residential stuff.You have to remember that distress is not evenly spread out across the U.S.There are markets that have continued to go up and have zero to little foreclosures.Then you have the speculative markets that are first to rise and first to fall with wild swings in fluctuation.Then you have market that dip and recover but the decline is not as severe and is spread out over time.Whether you wait could depend on your strategy to buy properties.If you are long term buy and hold properties might dip a little before hitting bottom but that gain might be offset by higher future interest rates.If you are paying all cash then waiting and having the interest rate climb by 200 basis points but buying for 50k less might be a winning combo.You have to really explain your game plan more.Investing is not a one size fits all approach.

I discoved an amazing thing......I started to make more money, work less and had time to go to real estate seminars, buy tapes and books and build a savings, Oh...... a supportive wife was a big help........married now this Wednesday will be 47 years.I'll be 75 years old January 16, and as I look back over the many years of Trial and Terror, I don't think I'd want to start over learning to be an investor.What I didn't have and new investors have today makes this business easier; a computer, cell phone, Internet, Bigger Pockets and lots of folks to render help and encouragement.

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.

I used a system called "Trial and Terror". yep I was scared.

When I click on free trial, I am prompted to provide my credit card information but there is not listed price.Thanks,Dave

On a related note, if we had to evict for this commercial unit, would it be similar to evicting one person or would there be 3 seperate trials since there are three individual adults?