And yes, if I could get 1 or 2 houses refinance through conventional loan, it would work out better for me.

I don't know how easy it is to sell to another investor; I will say there are plenty of houses that need work out in LI, but from my personal perspective the sellers are still out on cloud 9 as far as their price expectations.

Attempting to find the next-of-kin of a decedent who has a vacant house can be an intense struggle, but when you find out that the next-of-kin is a relative of yours whom you never met, it makes digging in the trenches to secure a property so very worth it.

Theres a way to get around it where you dont have to put up the funds yourself personally in which your buyers would be putting up the funds and thats after you have built up a reputation for bringing them deals but i suggest you knock out a couple of these reos first...you could also jv with another wholesaler and go split the costs which u would workout the wholesale fees or however you work that out with the other guy...the $1000 sometimes is 2k as well,just depends totally.I would also suggest you read up on here a lil bit more on wholesaling reos cause it seems as though u are new to this although im not trying to bash you or anything ..the earnest money deposit is emd for short.

With wholesaling, I find that I have to be much more involved in the business day-to-day, I have to spend lots of time on the phone, I have to do lots of networking and "selling", etc.But, these aren't the things I want to be doing.With rehabbing, I can mostly extricate myself from the day-to-day business, hire and delegate most of the work out and only have to work a few hours/week.

I am hoping to work out a deal with the current owner to pay off the back taxes with an additional $10-15,000 to aquire the property.

Those who I've heard pursued this opportunity have said it's extremely marketing intensive.

Has anyone done this course? I bought the book (Secrets of The Millionaire Mind) a couple of years ago by chance in an airport transit lounge and loved it, however like the Kiyosaki Books it pitches a lot to join ongo...

If the agent lists the property with the owner then the brokerage mentioned in the listing contract has the relationship with the owner.The agent is working on behalf of the broker.Most states have laws that all offers that are written have to be submitted to the sellers.Used to what you were doing was easy to do a few years ago.You could try many different tactics depending on what asset manager you got that day.Many short sales were conducted on the fly with the loss mitigation departments.Now the government has created the short sale streamlined process and many banks have actual short sale departments.This means the process is more automated and harder to manipulate in your favor as an investor.Servicers have to go by strict protocol in their servicing agreements.Not following the agreement can affect mortgage insurance payouts and potential lawsuits from investors who own the loans.The servicer has to document everything and show the least damaging route was taken for the investor.When the loan is a RMBS (residential mortgage backed security) sometimes they would rather foreclose than do a workout with the homeowner.This is because the senior investors position for payoff is first and they don't care about the investors in a first loss position on the security.So what you can do as a short sale will depend on the loan type and who is backing it and the servicing agreement.If it has to be listed they will not proceed until it is done.An hourly worker who has to document steps is not going to fore go one of those steps so that you an investor can gain from it.There is a chance that once it is listed that they will still accept or counter your offer.It also depends on if you are paying cash or asking for expenses.The seller almost never has money on a short sale and any costs have to come off the banks side.

The competition in California is intense as well.