Illinois RequirementsProperty management activities that involve general administration, like contracting for property maintenance (garbage pick-up, etc.) and paying general expenses (utilities, etc.), do NOT require a real estate license.

There are so many ways to invest in RE or otherwise do deals.Certain activities will be better but which ones will depend on your starting point.

the challenge seems to be in finding an escrow/title company that will allow the "double escrow" to be done.....for example: there is an escrow open that is required by the lender once the "approval" from the lender is secured....then there needs to be another escrow opened between the "buyer" and the "end-buyer" on the same property....so, "end buyer" comes into escrow with the $300K plus closing costs, closes existing escrow on the property...then the title/escrow officer walks into the next room and applies the $250K plus closing costs to the original escrow to close that one.in theory and once in the past this was the way it was and still should be...but, now as it seems, most escrow/title companies are not wanting to do the "double" escrow for reasons of "full disclosure" to all parties, for fear of not being "sued" for some type of fraud.those of us not engaging in these tactics get penalized.....but, such is life....i have a title company that has stated they will do a "double" escrow but, will need to let the lender know this fact. not disclose the "amount" the "end-buyer" is paying, merely disclose there is a 'double" escrow in effect....well, obviously this should kill the deal right at the very end....so, not a wise direction to take....

A Canadian will have to chime in to confirm.All lenders or creditors who report activity are able to have anything they reported removed from a credit report.

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

Just my opinion....The lack of information on many of the posts and profiles of any forum can discourage others from engaging in any type of serious conversation.RE_Jokester_01 want's to know about a $100MM loan but doesn't provide his/her real name, an email, and at least a vague geographical location; how serious could they be?

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.

You behave this way because You Don't Respect Professional Real Estate Agents/Brokers.Would you engage 2 lawyers for a lawsuit to see who can get you the highest settlement, knowing that one won't be paid?