If you buy a REO off the MLS for about its asking price, how is it you're going to turn around and sell it to another investor for a profit?

I advised them strongly against this on the principle that the person who determines the scope of work SHOULD NOT be the same person who profits from that scope of work.

I was hoping to be able to buy low at an auction and sell and pay back the money and keep the profit.

haha I was 3 in 85I did pay a bit for the two seats (18k), but based on the current prices (Ebay, Stubhub, Ticketliquidator, and a few other sites I checked out) I should expect to pull anywhere from $200-$400 profit per seat per game (not including crappy preseasons, of course), so that's 3200-6400 a season.

Which brings me to my next point........I would not even be looking at a deal like that if I were you unless an easy realistic sales price would be 120K+.I don't try to make the marginal deals work, I want plenty of built in profits.

Losing $5,000 or $10,000 in profit because you don't want to put up $500 or $1000 deposit that you are going to get back when you close is not good business in my book.If its a deal then put your money where your mouth is (IF you have to, of course :D)

So, subtract your monthly mortgage cost and calculate how profitable they would be.Assuming they're not losing money I'd probably consolidate for a bit, not take on any more debt (of any kind), pay down all debt, but particularly pay off the SMALLEST loan.

I figure we can 1. live in the condo and buy a house to rent/section 8. 2. rent the condo and buy a bank owned property, hold a year or two and resale for a profit.

I have been buying very cheap houses and rehabbing and selling at a good profit, but all with my money.

I look forward to all the great info on this site and a very profitable 2008-2009.