Allstate is really doing you a favor by making it clear that you need to shop around for a company that knows how to cover your risks.I am not saying Allstate is bad or that they will not provide rental coverage in many markets.

They are motivated by the regulators to clear it out sooner or later.John Corey

If you find a clear statement of the law and it supports your position then send the info to the seller.

The beauty of buying directly from the Lender or Bank is that the property is cleared of all liens and encumbrances.

I'm not entirely clear on what you mean by "offering the seller their own equity".

It is mostly regulatory pressure that clears REOs.The level of deals varies by markets.

How the file is put together and what is in the file is what the lender depends on.You are clearly speculating on the future if you buy a lot and expect that its value will go up from future demand.

Clearly John I wasn't saying that what you learn during the real estate license class is enough to become a successful investor, that would be ridiculous.

hello everyone, well anyway i'm a new investor and after some research i decided to focus on pre-foreclosures.well anyway i was told of a strategy that i could use that didn't involve the use of any of my money or credit and will allow me to actually retail these properties to end-buyers and not just wholesale them for a small profit to other investors, it sort of goes like this.1- locate and market to the people in pre-foreclosure, 2- once they contact me setup an appointment with them, 3- setup a land trust with them ( which they will be the beneficiaries and either me or a disinterested party the trustee)and have them sign a "warranty deed to trustee" doc which i will record at the my local court house, 4- also have them sign over there beneficiary interest to you which you'll store away for protection of problems that might come up in the future 5- start marketing the property as well as working on the short sale with there lender, 6- once i have my end-buyer (and hopefully my short sale is accepted in time) have my title company perform a double closing to pay off the first lender as well as myself, and to give the end-buyer clear title without any seasoning issues coming up (which i was told there has to be two separate HUD's, two separate escrow accts and etc)so my questions are: do i have all the steps down correctly or am i missing something?

Until they own the property it is not theirs to sell.If the person can not think clearly then they can not legally sign documents.