In order to avoid the costs to present proper documentation in order to foreclose, they are offering the borrowers and tenants cash for keys in order to avoid further damage and vandalism.A broker friend of mine actually witnessed a used car being given to a borrower in exchange for leaving the home in good condition and the keys.Since there is so much controversy over the foreclosure proceedures coupled with the sheer number of pending actions this is the best way around it for the investor.

Many of the most attractive floorplans and lot locations get offers at the SS stage and often get bid up at auctions while REOs tend to have a higher proportion of the dogs.Vikram-If you say it is so, then I believe it to be true.

Great to be here Charles there is so much information on this site I am trying to get this thing rolling in the right direction also another tip @David is to not get to spread out, I don't know about you but I get overwhelmed because there are so many directions you can go in but it seems each avenue of RE Investing fits personal characteristics of people for instance if your creative, can envision the end result, see potential pitfalls, and you like working with your hands maybe rehab would be right for you and so on .

ugh.. didn't know this area is so undesirable.

To you it might mean replacing one or two items.To a buyer it might mean the whole thing is turn key to pay the price you will be asking.Otherwise they will just go for a partial fixer themselves at a much lower price.I see it many times where rehabbers run out of money and start half-as#ing the last half of the reno.That is a sure way to be stuck with a future rental.Flooring,Kitchens,and Baths set the tone for most buyers along with layout and size when they walk into a property.Here we go but I will tell you I can't stand laminate.I have never heard a buyer say "Oh it's laminate this is so nice".It's cheap for a reason in that it's not that desirable.I can see for rentals in my area but not for flips.In my area big tile is put down more than laminate.If the costs is only a little more you want to spend on the things that pop.If you and 4 other properties have the same layout and price but you have the nicer floor,kitchen,and bath then most likely they will go for yours.Exceptions would be yours next to highway,no yard,etc.It doesn't have to be expensive just look expensive.

I currently can only get approved for a 54k loan at my local credit union because my income is so low being a server.

Understanding your market is so important.

It is so great to not have to go to the DMV and take a number, then wait for an hour only then to deal with the cranky 20 somethings who just started working there.

If this is so commonplace how hard would it be to find some case law and post a link to it?

In fact business is so good, we need additional working capital to carry receivables.So I wire another $10,000 to company account.