EricRefinancing can be blocked if the property was listed for sale in the prior X days or weeks.Not all Realtors are all that savvy as to the best way to deal with a pending foreclosure.So, two valid reasons that refinancing might not have been in the cards when the listing was created with seller financing being offered.John Corey

Could be this is very expensive or just plain can't be done.You'll also have to consider access, if just subdividing it results in land locked lots at the back.

So, I do not have much experience.I want to take the leap into Real Estate Development.A few blocks from my house, at a busy 4 way intersection, across from a small strip mall, are three un-occupied and sad looking houses, all in a row.

Do you think the bank REO departments that were so hard to get in touch with may be a little more accessable?

Chances are if someone is buying this rehab there inspector will find this, most people will insist this be fixed before they'll buy it and getting someone to fix a now chemical and sewage disaster it will cost double plus you may do finish work over the access point for the plumbing and that will have to be re fixed on top of a mess in your finished house.

If you do pay down the loan each month the equity is largely trapped so not easy to access if you really need it.John Corey

In McAllen the average price of a home is around 70k so loaning out such a low amount may seem strange to them.The property is a 3 bed 2 bath 1350 sq ft residential on a good block across from an elementary school in Mission.

Just to verify, though, it's my understanding that the group of investors you have developed relationships with already have established access to their own cash or financing.

This allows the city to access underground utilities, provide for parking, sidewalks, landscaping etc.

I have been looking for local deals but to get any cash flow it requires 20-30% down.( I don't think I know where to look) as we are brokers we have MLS access, Loopnet as well as local comm. brokers, just like everyone else.