Interesting question.Deja vu all over again.I've been in Phoenix for 25 years, primarily in commercial real estate; although, I have served as a receiver for raw land, improved lots, and tract homes in Phoenix and Prescott.

Originally posted by Sam Leon:I kept hearing people saying when in a REO situation, if the bank came back with a "HIGHEST AND BEST OFFER IN 24 HOURS",I have read this to mean that they did not receive offers high enough to meet their "minimum acceptable bid" and they are asking the ones who submitted bids to re-offer with their highest bid based on the assumption that their first offer was low balled.

He has a lease for the next 4 months which is completely tenant sided and most likely made up with the help of the previous owner.Am I also eligible to receive prorated rent on the home since I signed the contract a week after the beginning of the month?

No wall paint, no satellite receivers, no installation of appliances, no storage sheds, no building of structure (some seriously want to build their own pergola), no swimming pools, no hot tubs, no electrical modifications, carpet, etc.

I WISH it were as easy as cutting off a switch to get a tenant to get serious about their bill.Will Browm If you are sending quit or pay notices on Day 2 when the rent is past due, and then following through with the eviction if you don't receive full rent pronto, you would be the exception.

I found that I received more calls with the printed font and it was definitely more efficient than actual writing.

In your situation, if you are receiving almost 2% per month of the purchase price unless you took hard money to do the deal it sounds like you might have a very good return.

I received a letter from my HOA stating I need to replace my roof.

The high bidder at the auction receives a Tax Deed, which is ownership of the property.

From what I understand, the process is that you invest into a holding company such as a REIT (not through the stock market) in the form of $50,000-$1,000,000 blocks and receive an ownership stake in the properties.