That said, focus on building a real estate sales business.  

I personally don't like online sales but that's the direction they are headed. 

Obviously, the appraisal came in almost 19% below the sale price so the loan did not go through.

In the description it says The loan is currently in arrears and the lender has agreed to forbear foreclosure to allow a sale of the property subject to the existing loan.

So i came across a deal on zillow when i was searching the "For Sale By Owner" listings.

Don't ever offer anyone a portion of the sales price of your property - offer a portion of the profits... that way the investor assumes some of the risk in return for more of the profits, but you aren't locked in to paying them a certain amount if you have to drop the price and get out of a bad deal

Always remember to do a math analysis on a prospective property and try to look at it before you make an offer or at least have a clause in the sales contract that will allow you some time (about 15 days) to make a detailed inspection on the subject property without a penalty that will hurt y'all.I am 59 years old and I found BP about a year ago and I have not decided what to do.  

how do i go about getting a property under contract that is a for sale by owner?

However, the reinstatement with the bank and immediate sale may cause issues.  

Here are the pictures:  http://www.recolorado.com/homes-for-sale/7625-E-Qu...