First, follow this post tactic… go to Commercail Bank and Trust (CB&T) in your town.

thank you both for your wise words, well anyway i guess i'm just so anxious to do my first deal. especially a deal like this were the homeowner is in distress and states to you how much equity is in the property (i know i'm a beginner, but i don't see how he'll benefit by lieing to me about the amount of equity in the property, because he already stated he doesn't want to sell the property, and i already stated to him i'm gonna view the property/mortgage paperwork)well anyway i must say i agree with you both, from first look it seems the best way to do this deal (thats if all the number are right) will be to purchase the house for the amount left on the mortgage, and give them moving cash and etc (this way i'll have alot of instant equity within the property, which i could either wholesale to another investor or put it on the market at a small discount and sell it retail because of the properties perfect condition, then i could even try a short sale to build up more equity to make the two above tactics more profitable for me)now the only tactic i can think of that would work, were they will get to stay in there house and will be profitable/beneficial to me as well is to then purchase the property real cheap (whats owed on it) and offer to lease option it back to them at a higher interest rate and at a higher property price, but i think this tactic will be risky with this individual because of his credit and the nature of work he's in (construction were some parts of the year your without work and tring to collect unemployment) so this is what i plan on doing, i first plan on putting together a list of questions i must get answers to at the tuesdays meeting i plan on having with them, then i plan on explaining the whole foreclosure process to them and the uphill battle they face (which i hope will change their position about not wanting to sell their house under any cumstances), then i plan on making a smooth exit and letting them know i'll be back in contact with them to let them know what i think their best solution is to solve their problem (this tactice is to buy time, so i can really cruch the numbers and speak with others to really figure out the best win-win for everyone, thats if their is a deal their)if anyone has any other suggestions please let me know

A tactic where you use the inverse of high pressure sales, and it appears to be a good one to use in this situation.

What got you into REI and what is your tactics for making the best of todays market?

My tactics are changing now but for the past few years, I have only been going to see the homes after the contract is signed.

Your role then becomes similar to the asset manager who manages the macro strategy vs the tactical day to day operations.If you do not know anyone in the area you want to invest in, send me a PM of where it is you want to invest and I may be able to referr someone to you via my contacts and network of CCIM and CPM associates.Good luck with the new year.

All an investor needs is one or two tactics to make it out of the rat race.Now, having said that, I can understand someone wanting to take classes or see a guru to get specific and advanced knowledge to assist in fully optimizing a RE business.

If I have tenants in the future I think I'll use that tactic.

It helps remind me of the tactics that they use so that I’m not duped when there is real money on the table.

We do a datedown the day before the sale to make sure no one filed BK or other stall tactic but in general, if our sale is at 1:00 and someone gets a postponement for some reason prior to that 1:00 start time, we would have to postpone or unwind any sale that may have occurred.