Some may consider that a little on the predatory side if it were a preforeclosure, simply because you're taking so much from the seller.

They win when you win.

I strongly urge you to use an LLC or other legal business entity to flip short sales as banks are savvy to the land trust and when seen on the contract, option or PSA, they may simply reject the offer all together, whereas an entity is common practice for investors which provides liability protection advantages, etc.

Assuming your goal is to make money, then you simply need to buy better from now on.

I don't know which site you are referring to but we have been looking at purchasing a couple of different REO's and often time the listing agent simply hasn't updated recent price reductions, not all of the sites have been updated.

•What type of sellers you offer assistance tooPre-foreclosuresoFor Sale By OwnersoPeople who couldn’t sell beforeoProbateoEtc•How fast you perform•Mention your name again•Pass out a card, or two, to everyoneNetworking Rules:1.Find a club you enjoy2.Become active in it3.Every event is a win-win4.Always dress the part5.Don’t be shyBandit SignsBandit Signs are a form of what is referred to as Guerilla marketing.

Simply a purchase agreement, thats it.

If I understand your reply correctly, the following:Assume that Joe is simply looking for a partner with credit.

While you're waiting for this person to show up, you could have been renting the property.I could go on and on, but suffice it to say that lease options are not any more profitable than simply renting.Good Luck,Mike

I have heard of people sometimes trashing the homes before they move out, so I was thinking if talks with the current owner go well I could try to make some sort of deal with them that if the property was left in the same shape I saw it at then I could offer them some money say a couple of hundred bucks , assuming I win the auction.