Nobody is getting rich off of the cash flow on a handful of 20k or 60k houses.

Even if you don't get the deal done you were still able to establish that you all will work for "food", and not just someone who is looking to get rich through real estate.

I am looking to purchase a home through auction for my family and I and the details are as follows:Wells holds the lien and there are no junior or other outstanding liens.It was established in 2011 at 175k and the property owner stopped paying over the summer so I think it's in the 161k range for what's left on the mortgage.In talking to Wells they said that they were not listing the property for auction but the owner was... yet Auction.com lists this as a foreclosure property.My father would partner with me on the cash for this deal until I can grab my traditional financing but he is worried about being on the hook for more than we expect.If I have checked with my recorder of deeds for any extra liens or overdue taxes, sewer bills, etc, can I be on the hook for anything more than my bid price if I win? 

Intrested in learning new non traditional ways of buying real estate.

I rather like the Boston market...it has made a lot of people rich.

I resently found a book on her night stand that is almost half way finished it called RICH *****, so I truly believe she is a very determined girl and I think with college or no college she will surpass my husband and I and I hope she does. :)Thank you for your advisewishing you success :)

@Brian Gibbons @Rich LennonSo I would be transferring the title/trust to a tenant buyer for cash instead of assigning the option??

It is like real estate is the path to easy riches for people with no money or experience.

You would need to speak with a mortgage broker to see if this can be done via traditional loan.

We recently finished reading "Rich Dad, Poor Dad" which modivated us to find out more and led us to the "Bigger Pockets" podcast...