Mostly lenders who would be called portfolio lenders as they do not expect to resell the loans.Usinig an LLC is a good idea overall but sometimes overplayed.You will pay for the added liability protection.

Yet they act like it is a private club of just friends and family.To be more to the point...Some are in a service role providing something to the public (RE agent, book seller, mortgage broker, home inspector, REO portfolio bird dog, what ever).

If you want to be a landlord and build a portfolio selling is not the best idea.

A lot of the investors have portfolios that consist of loans in all credit ranges.

When they bring me 10 deals, I will put down their down payment for them on their first deal (certain restrictions apply of course) This way you help people become educated about REI and help them start to build their portfolio.

Would still love to get great deal on single home foreclosure but more interested in Bulk REO portfolios, notes, compilers, asset managers....Once again thanks to the guys running the siteUSA2000 :D

I have found the basic information on how a loan mod works, but am having a hard time grasping the exact details.Can anyone fill me in on there loan modification experience, and if it is something that may be easy or hard to add to my portfolio options, and most importantly, is it financially lucrative on a smaller scale?

Done correctly the old property will cash flow and you can grow the portfolio.

I believe Mike built his portfolio in NC so a local to you in some ways.

Many do, but many more do not.I find it particularly interesting that the folks that come to the site trying to deal with Bulk REO portfolios (many tens of millions of dollars) don't share who they are.