Others take a more formal approach.

The advantage to this approach is that you now have a business that has cash, and it can do almost anything you want.

So I've gotten some advice in the past few days from not only Matt (above), but also a local guru and those on another board, who have all given me the essential 'get it on paper first' answer -- but my problem is that it'll be my first time doing this, and I'm not sure how to approach an absent seller about signing their home over.Here's what it FEELS like I'll be doing in this situation: "Hi, my family lives near your home in Florida.

More likely if you approach the junior lien holders but you need to understand if the property has enough value to cover the junior liens.You can buy at auction.

If they're right, they could become an entirely new market butif they're wrong, depending on what's being auctioned off, they'll take a bath.Starting with a bid approaching prime is greater risk for the greater gain.No matter how you look at it, investing is Poker without the beer and smokes.

As a matter of fact, a couple of listings since then have list on the MLS.My first question is with the information I have, what would be the best approach .. for those properties have not yet been listed on the MLS.

I'd like to be able to keep track of what properties I do get came from where, what marketing brought it to me, etc.

His approach has me glued to the computer screen.

Has supposedly gone thru Chapter 13 BankruptcyAny further thoughts on what my approach should be?

You'll have to come to terms with forgoing some of your profits---you'll need to quantify the rewards/risks for taking this approach.