I was recently lured into the web of the instant riches of bulk REO, only to find that, while many talk about it and supposedly are dealing in it, few are actually finding success in that area.After developing a few good connections with investors, and a lot of soon to be forgotten not so good connections, I decided to get back to basics and just observe and learn for a while in the hopes that doing so will also allow me to develop a network of people who are already successful in the areas of residential and commercial investment.I am 51 years old, and actually backed into the mortgage business in a round about way 4 years ago.

You don't need a system, you just need to learn the basics of the business and then start working.

Ah Josh, I just heated up a bag of popcorn, this could have been fun!

I just loved their term of "gingerbreading it" - just basically paint, carpet, some landscaping, flowerboxes, etc.

Which basically means to wait a few months for prices to come down more so that after my DP I still have enough to pay 6+ months of mortgage and food...PM said they think the bottom has been reached here, but that's not what the national news says, and personally, I--who know absolutely nothing--think it has quite a ways to go down, too.

Since they live there, they make friends with some tenants, enemies of others...basic personality issues.

I have a few favorite memories:Roach House: Too young to do much around the house, as the brothers and Dad pulled up the carpet, I spent hours sucking up roached in a vacuum as thousands (seriously) crawled up the wall.Dirty toilets: It's amazing what chlorine bleach and elbow grease can do.Palm Springs: Landscaping in 120 degree heat.

I don't buy into the whole getting money injected into your bank account basically on auto pilot.

(I don't really want to request that I select the closing firm to the selling bank now that it's at this point)Would I be right in saying that the actual selling bank basically thinks they are selling to me but on closing day they will see that Mr.

There is conflicting wording in the various areas here, but you have it from the big guy himself, right there, they retain NO ownership interest in articles.But, there is, in my opinion, a more basic flaw in their article guidelines...May not contain any links or images within the body of the article.Articles on the web build upon other articles and content on the web, without being able to cite sources, with links, it is impossible to verify the content in an article or even review the sources the author relies upon.