The report also now looks like an appraisal because the BPO mills have added so much stuff and requirements to beat out other mills for orders.Unless you live in an urban core area it is not that profitable.The reason is if you are suburban to rural there are not many comps and they are spread out. 1 order takes a bunch of time and has a bunch of adjustments and QC issues to make it work.The fee they pay is the same regardless of the difficulty.Local banks tell me the get hundreds of calls a week from agent wanting to list REO's for them.If the bank pays 2 and you have to split with your broker and cover computer platform fees,asset company training fees,yearly membership fees,etc. then you are almost working for free selling REO's.It is NOT a gravy train like people think.Yes REO brokers who had just a few listings int he boom times when things went bad they made huge bank for 1 to 2 years.Then now everything is saturated and not enough to go around.You can pick up 1 or 2 listings but you won't get rich off of it.

I’m a bit concerned about the saturation of the market as far as tourist rentals go as I’ve read that many Turkish and Russian investors have been buying already.

Should I focus on any particular deals or criteria through MLS or just saturate my market with offers that I could afford the downpayment?

Unfortunately, with its success has come saturation.

I'm sure no BP member would ever stoop to such tactics ;) Seriously though, do you think the market has become so saturated that these people are just desperately scouring the planet for anything just hoping for a bite?

As a final note, the market is saturated with people looking to invest in real estate or start a real estate fix and flip or wholesaling business.

If your market is like most other markets across the country it is likely to be saturated with investors, with many of them doing direct mail.

Here's a sample "roadmap" when prequalifying buyers on the phone, I tell them to remember the acronym FATPOP - which stands for:F - financing: ask the buyer if they need bank financing to buy the house or if they have prequalified with a mortgage brokerA - area: which part of town are they interested to buy or invest inT - timing: if they like the property and the price, how soon can they closeP - property: once their answer on the FAT questions are acceptable, you can now describe the property and highlight its great featuresO - Owner: are you the owner of the buying decision or are you a broker or a wholesaler or do you have a spouse or partner to check with to make the decisionP - price

I don't have to find a deal to put food on the table and I can patiently wait for the proverbial fat pitch.

I have apprehensions because any system that is made super easy and highly accessible to the general public has the potential to become over-saturated very quickly.