That's right I said it; Even if the home has been on the market for 60 days, most asset managers approval levels are based on the current list price, which as you pointed out, is reduced every 30 days - most of the time.Unless its priced right we keep tabs on them until they get into a price range where its a buy.

On an "in-house" deal like this (actually, on any deal if you're gutsy) you can specify as one of your terms that "agent agrees to a reduced commission of ___".

The one person that I see making good money right now is the sign painters who make the "PRICE REDUCED" and "NEW PRICE" signs that are stuck on just about every Realtor's signs that we saw.I think I'll sit on my money until the first of the year or so!

You earned nothing and have nothing to deduct.You might have had expenses (driving around, fees already paid and not recoverable) that can be deducted.The simple version of the rule is money actually spent on business activities might be something you can deduct.

If it is from doing deals anything that reduces your ability to do deals means it is costing you money no matter how much an hour it pays.No one when starting out is able to fill every hour hunting for deals.

As people enter their maximum earning years they should be diversifying into other investments, retirement plans, etc. and their residence should become a smaller and smaller percentage of their net worth.As people enter their retirement years it should be a very small percentage of their net worth.

We treat then at our pleasure or error.I think that at least 2 majors will restate their earnings and there is more blood to flow.I personally know of 2 top 20 ML's who currently dispose of REO's via on line sites who, because of uncontrolable volume are considering trying bulk purshase, small initially but .....A third person I/we work with is personally aware of a significant 3rd I am aware of at least one other to my comfort.I don't wish to argue all the good stuff you chaps articulated.

I'm happily earning 15% on my money.I'm considering a joint venture opportunity on a L/O of a duplex with another member I meet at a club meeting.A short sale I signed up last summer and the bank accepted was purchased as a rental unit by a club member.I'm putting together a joint venture opportunity with two other investors I met at the club meetings to market for property and sell wholesale in a specific area.

I will say that because of all the "credit crunch" talk the regulators are wanting my bankers to reduce from 80% to 75% LTV.

Buyers are all on the fence because they are waiting for homes to be reduced once again.