Tuesday - Spend day networking with realtors, bankers, credit unions, mortgage companies and all others you come into contact with (spend about 2 to 3 hours)Wednesday - Go through newspaper for homes for rent, FSBO, Homes For Sale, Legal paper listings and searching neighborhoods and drive by.

johnmichael: How to be a master negotiatorSid: Stay under the radarjohnmichael: The best way is to loacte them by way of "NOD'S" Notices of defaultsDan_Auito: Attorneys, research services, your own letters, public records lis pendens etc...johnmichael: You can not find RE in Springfield it's all mine LOLjohnmichael: As an investor I have taken hundreds of courses the are of becoming a negotiatorDan_Auito: notice of default if your wondering folksjohnmichael: Finding them in the legal notice is to latejohnmichael: I will show you also how to locate the NOD's as we progressjohnmichael: Locating a great deal is all about your ability to DETERMINING FAIR MARKET VALUEDan_Auito: I love having an appraiser as a partnerjohnmichael: So you locate it!

Many sellers have backed out at closing (legally bound or not) once they see the money they could have made on their own.

Let’s do the math now…… financing a property that cost $5 Million dollars with 20% down would require you to put down $1,000,000 and you would still have to add in legal fees and closing costs.

Being an investor herself and keen business person--spots this as the great investment opportunity that it is, promply pulls a sales contract from her brief case, writes up a legal offer to purchase the house for a hundred and seven thousand dollars, with a 7% commission being paid to her as the listing agent at closing.

I wouldn't be cheap when it comes to the legal side of a partnership agreement.You can probably use some standard partner agreement from Staples if you're looking to go low end, though.

Where do you get the contracts and how do you know if they legal?

Here (Chicago) you must legally provide a fridge.

Anyways here is the linkhttp://www.dca.ca.gov/legal/landlordbook/2004_companion.pdf.

I have also spent a bunch of money sending out letters and getting the legal papers sent to my home so I may be the first to get the letters to these homeowners.