Gouging might work out a time or two, but may ruin possible future sales.

My $.02...Just like has happened several times in the recent past with similar deadlines, the two sides will come together at the last minute, work out a deal that neither side claims to be very happy about, and which will ultimately just "kick the can down the road" to be worried about at a later time...Rinse and repeat.

Experienced investors work out of state and sometimes out of country but in this case you need an good PM in this location.

Paying underwriters, processors and such to earn interest for 6 to 12 months even if it is a nice interest rate doesn't leave a lot of profit for the bank especially for the inherit risk as not all of these deals work out and the small profit margin in the banks eyes the majority that work out can quickly erode with 1 bad deal they take back at foreclosure

I actually just answered one of your questions on this weeks Q&A session.

Hi @Uuri Koh , awesome to see this thread a year later after you made everything work out..

Mike,One of my favorites is look for vacant houses and track down the owner and try to work out a deal.

In order to minimize my risks as I am very new to this, I am trying to search for a mentor who can help me work out the steps, get my hands dirty and create a system that i can replicate.Any help that you guys provide will be really helpful as I am still trying to figure out how to start, who to meet and what questions to ask.I look forward to meeting you all~Sid

If they don't have it, work out a payment plan of $50 per week until it's paid.

It was a very nice place with hundreds of units, 3 swimming pools, workout facility and more.