The board runs the show, and has both financial and legal responsibilities to you and your fellow condo owners.

The closing took about 30 SECONDS, the legal fees were less than with a loan (Texas is a "Trust Deed" state), and the monthly cash flow was in fact, cash flow.Hmmm, I do babble on, but now you know more about me than you really wanted to.all cash

The following are possible answers with some possible conditions:1.Out of town owner – unfamiliar with current market conditions2.Incompetent to negotiate – power of attorney3.Passed away/executor of estate – quick sale, legal authority4.Real estate broker or organized selling entity – it may be overpriced.5.Bank officer or foreclosure agency personnel dept. – lower your offer6.Sophisticated lease optioning reseller/investor – big bad wolf!

Is it physically possible, legally permissible, and financially feasible?

My usual deal; $2K down, $500 legals (I prepare the docs, so that all goes to me), 2 months prepaids (escrowed with me), and one year's insurance paid up front.

Here is a list of steps you must take to be effective:[b]1- Plain white legal size envelope.Bright colors piss owners off as they think that you are bringing attention onto them.

Too often people are so excited that they have found ANY property and that they can afford it these days that they don't take the time to consider everything you have stated in your article.One big newbie mistake and you can ruin your landlording future for the rest of your life.The only thing I would tack on to the end of your article (if you don't mind me saying so) is to make sure AFTER you have selected a great property and are ready to rent it, that you have someone that REALLY knows what they are doing to mentor you through the actual rental process... making sure all of your docs: application forms, lease agreements are legal for the state their property is in and not inadvertently violating HUD laws.

They're about 5 months behind on payments.Here's the numbers:FMV after fixing about $105K-$115K.Probably needs about $10K in repairs.Loan balance is about $48K,Bank wants about $5K in late charges and legal fees to date.Wife wants to walk with $7500.My attorney (who's also their attorney and brought me the deal) suggests paying the wife the $7500 (obviously I'd only do this into escrow subject to my getting marketable title.Then buy the bank out (HERE'S WHERE I REALLY NEED YOUR HELP), I sure don't want to pay them full face on the note, nor any late or attorney charges.

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!