I will say I learned several things through the process:Assignment of contracts and simultaneous closings, two ways to tie up a property and sell or assign to an investor, without my own money, protecting my interest and not getting circumvented.There are hard money lenders out there willing to work with you at not so unreasonable rates.You have got to move quick on getting your offers written up and submitted with all the other documents you need.

The property is a practically new build (2006).

I hear that is not good practice.

oh and it takes A TON OF DAILY PRACTICE.

I think it's an extremely small any of these would actually result in a deal, but it's good practice of communicating with sellers.

From a practical point of view just assume that all REOs get listed and all listed property will be in the MLS.

Then do a simultaneous or double closing.

Today I sold a house that I had also bought today, which is known as a simultaneous or double closing.Now certain types of financing have restrictions on resell periods.

There are other signs as Ryan has mentioned.To all:Market practices will vary across the US.

I have yet to do a deal myself, however when i became a real estate agent at the age of 20; my friends thought i was kidding, my dad practically disowned me and my mother thought i was going to fail.