However, my bet is that ten to fifteen years from now these may very well turn into high-density section-8 tenements.

Short sales are filled with too much emotion and paperwork.Wholesaling, I would liken this too exept I dont have to drive around town looking for properties, just look at what banks have to offer.I really dont want to be bothered with Renting properties , although I do have it in my plan to hold on to a acquire a couple LO or sub2 for long term.To get started here in REO I planned to get a private money loan, last choice is hard money.

I'll bet all five of these houses are sucking several hundred apiece out of your pocket.

Although its not a private island its along the oceanfront and a similar scheme could be built on a private island.A long read but a heck of a story.

You're losing money every day you hold it because of the monthly loss.What you're betting on is appreciation.

In my own words...Active member in the private sector of cash flow notes.

In other words, can I offer $200,000 bid and go to the lender to let him approve $230,000 so that we can cash out the $30,000 for rehabbing and cosmetic upgrade, etc.If not, will lending money from Private and/or hard money lenders and re-finance the house within 3 months of closing and pay back the private or hard money lender work?

Please contact me back through Private Messaging or Replies and hopfully we can exchange information and hopfully start in this crazy world of real estate together.Thank YouLynel CharfaurosRC Legacy INC.San Diego

The owner is also the listing broker.There is a first and second on the house for aprox 1.4MM and a third with a private party.

How do I go about getting hard money or private money for this deal?