My best advice for getting the best deals...close quickly and cleanly with a reo agent in your area to establish rapport, then make it loud and clear you are ready to play.

In the REOs I deal with, it's much cleaner for there to be 2 realtors on the deal and there is a disctinct "class" of the listing realtors and the buyers realtors in town.

I think I will stand back and watch how things play out and ask questions here as they arise.

I agree with you that it would be ideal to not have to partner up with anyone for the purchase.

I know i'll have to go through ALOT more properties to find a deal, but the problem is finding the deals.The papers have nothing, driving for dollars hasnt been much success, and direct mail is a bit pricey.I think ill be doing some bandit signs this weekend and see how that plays out.

From my point of view, non-performing loans look great from afar, but are really hard to do with less than say $20,000,000 to play with.

I deal primarily in the pre-foreclosure realm and I am just getting started.

4. when does private placement memorandums come into play

Hello all, this is how i spend my days(Phase 1 get my mind right)- Pray- Meditate - Exercise & go Jogging - Take a warm shower (while listening to relaxing music)- Eat a good breakfast(Phase 2 take care of business)- Check and respond to both my email and voicemail messages- Check to-do list, and complete any items due that day- Scan through that days top real estate news articles- Do a little networking through various real estate groups & forums (mainly for: education, finding deals, and building my connections) - Do at least one thing that day that normally makes me feel uneasy (I work on conquering my fears by doing them) (Phase 3 relax)- after all this, I put anything new on my to-do list to complete for the next day, then I either read a book, hang out with friends, watch a movie, or play video games.

Is the seller willing to give you cash for the negative equityFinancing is tough right now and there are some good deals but getting into a negative equity play just because of seller financing does not make a lot of sense.