The rent in that is area is a good price via Zillow but I'm not sure what's the price of rent in that state or area.

Hi Luli,Buying via a foreclosure can def. be overwhelming esp. for a new comer, not to say it cannot be done..I would just read up on these forums and absorb as much knowlwedge as you can.

You don't need to have money in the game necessarily, if it he has plenty of capital and only suffering opportunity cost by carrying the note -- you're also suffering an opportunity cost via your time spend.So you'll end up putting a lot more time into this than he will.

The hardest thing for me was finding people who were willing to work with my schedule and if they were willing to do a lot of things via email.When I am actually negotiating the price.

I've been an appraiser and a broker for many years...now I'm trying to find my way in the short & long term property investment game.I have flipped a few houses with my dad over the past couple years, as the broker and guy on the ground (he lives in Cali) but now I am venturing off on my own.I have a very firm grasp on how to locate, determine market value of distressed properties, and after rehab market value via my appraisal experience but am still learning the ins-and-outs of investing.I look forward to getting more involved in this site and learning from people who have been through it all.I am currently under contract with a house in the burbs and looking for a good CPA familiar with r.e. investing to get my finances in order, if you know one in the S or SW burbs of Chicago, please let me know!

I have done some private money lending, via a partner.

I'll send you contact info via email. 

Click on the name of the person that you want notified via an email, that you responded to them.

And when you go to sell, you'll have the documents you need for escrow to make a final payoff.IMO a resale via seller finance is a horrible plan.  

So finally got the detailed bid from contractor...Sending it off along with all that is needed...CMA, Repair Bid, Power Point presentation,  Deal breakdown...ANY TIPS????ANY SUGGESTIONS????