Also, if the bank is gone, the "assets" of that bank went somewhere - government or another bank or whatever - so they have the rights to the property.If you want to do the deal, you would need to do a lot of background research to be certain you are actually buying something of value.

It is also wise to diversify and take into consideration the markets where your assets are held, even diversify markets.An apartment vs. a handful of SFR's in Vegas or are we talking trading a handful of Vegas SFRS's for an apartment in Pasadena or Walnut Creek?

Do I just tack this to one of the houses and depreciate it over whatever years or should I split it into a $10 asset per property and then depreciate it?

Let's quit the word games and personal attacks.Stop making these accusatory comments at me.It's wasted space.Let's stay on the subject of the topic.You seem like you are frustrated with trying to buy an REO property and trying to direct it at me.It's simple.If you are a cash buyer then show the REO broker you are serious.Show them proof of funds valid within the last 30 days from your bank account.If you are using hard money then that is different from cash and subject to the appraisal and valuation the hard money lender wants.If your boyfriend is a contractor then maybe you can save on a home inspection and do it yourself.The REO brokers loyalty lies with the asset manager and the company they get listings from.Again if you are buying one property the REO broker is usually not going to work hard to get that accepted unless it's at asking or above.The bank is possibly giving 20 or more properties a year to the REO broker.

I handle the actual negotiations with the banks.Hello;I would like to know if a homeowner agrees to sell me their home during the PRE-FORECLOSURE stage and they sign the authorization to release form for the asset manager/bank, Can or should I indicate that i'm an investor looking to purchase the home or do i indicate otherwise?

As a developer, I can tell you that construction financing is very, very difficult right now, and that even in good times you would have to sign a personal guaranty (which in today's times, means the bank will hire a proctologist to make sure it understands your personal assets and that they are all pledged).

Your best bet is to contact the asset manager and not BONY Mellon.

hey gang,so i have been looking to finally protect my assets with an llc. my question is, is it worth going with a wyoming or nevada llc?

If one wishes to carry back paper on an asset they own free and clear and later pledge the loan receivables as collateral for a new loan who would they normally contact to loan this money?

We're seeing less than 5 months of inventory which is starting to look like a sellers market here.Are the banks waiting to unload some assets any time soon?