Have to have enough money to handle the swings when the gamblers actually win, too.There are numerous empty ones here in CO.

Keri,:welcome:It is good to have an active REO broker on the forum.You might want to fill in you profile a bit more so that people can contact you or better understand your business.

I'm new on this board, and haven't been active very much, but I will definitely update my profile.

He is a practicing attorney (CO and NY) plus active RE investor.John Corey

Better known as seasoning requirements; each bank treats this differently.Yea I've heard this before numerous times.

Recently with the massive interest in REI, I've seen numerous ads locally for "property locators" that directs you to a website form to "register" and then submit properties.

If it is an active foreclosure it could be that there is equity in the property and the seller is willing to carry back a second....If the list of "foreclosures" is actually a list of "REO's" then the lender/owner could be offering financing terms.

Now if I went to somewhere like Merced, California, there are numerous foreclosures and a large drop in house values--totally different markets.

You earned nothing and have nothing to deduct.You might have had expenses (driving around, fees already paid and not recoverable) that can be deducted.The simple version of the rule is money actually spent on business activities might be something you can deduct.

Take active investors to lunch and pick their brain.Once you do this enough you will have a sense of direction.