Happened to me recently :shock: As far as rehabbing, marketing and the such.

Even when I was a real estate agent in Los Angeles at the beginning of the bubble, I couldn't imagine such crazy requirements to make an offer.Since I haven't really looked at MLS listings in a bit, I was pretty shocked.

The Layout is very functional usable.Foundation was shockingly level for a 100yr old house.

The entire class was shocked...as I am sure were the tenants~!

The preliminary inspection from the bank makes mention of the basement being gutted most likely do to water damage but thats as far as it goes.

I would be shocked if you could get a bank loan for 5% down on a land deal.

Just need to get over the newbie jitters a bit by running some preliminary "deals".

If it's a foreclosure auction at the courthouse steps, then no, clear title isn't guaranteed.You should to do a preliminary title search prior to attempting to purchase at the courthouse steps...

But I was hoping that this was a real steal and I was wrong in my assumption.So I went and looked at the property and I was shocked to find the condition of the property.

This foreclosure had so many flyers and businesss cards I was in shock, I mean I could see the floor.