Some investors buy the property on the courthouse steps by bidding on it directly from the trustee (the trustee is usually the lawyer for the lienholder, who is actually doing the foreclosure on behalf of the lienholder), but in many cases its sold back to the original lender/lienholder, and they in turn list it on the MLS or on an online auction website (like Auction.com).

A company may look stunning on paper and by their website, but actually be quite poor at developing and maintaining good tenant relationships.

You can find a lot of info about Indy on my website and there's also some good podcasts from my radio show that you might find helpful.

What is the correct website for KKOC?  

Whether you are posting craigslist adds, bandit signs, direct marketing, SEO website traffic, etc.  

Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k =  22k Down110k - 22k =     88k  Financed88k @ 4% for 30 years ===  Monthly Payment of $420  (principle and interest)Other Numbers you'll need:Property Taxes  (get on the county website)Insurance (just call an agent or ask owner)Repairs    ( Really depends on condition of property, 10-15%)Utilities    (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy     (depends on market and property, 10%)LawnCap Ex    (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I-          5,040Taxes-      2,200 ( I figured 2% of home value)Ins-           800    Repairs     2250     Water       1800    (150/mth)          Look into heat billVacancy   1125Prop Mgt  2250Lawn         300Cap Ex      3375Total        19,140  22500-19140=  3,360   Cash Flow YearlyInvestment of 22,000 /  3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think! 

I agree with Tyler about being very clear with family when you engage in any business venture together.You will find a wealth of information at this website.  

Hello BP Forums Im a 17 year old high school student and I am planning on purchasing my first property this summer when I move out for college (Visalia area) and was hoping some of the experienced buyers on this website could steer me in the right direction on the best way to do it.

Many people would probably not agree with this, but the first book (e-book actually) I read was Preston Ely's free book on his website.

You win.But to clarify...If you only found good things about montelongo you are in the minority...I can find websites that say hitler was great...that don't make it so.Would love for you to hook us up with "plenty of people out there who are happy with this guys services"Also, I am not against capitalism...shop where you like...fine with me...never said anyone was a crook simply for pricing their goods differently.