I was informed by an individual that it is basically almost impossible to do an assignment deal with an REO unless you go with the bank's "assignment clause".

Stocks have really taken a hard hit, as real estate has as well, however if you stick to the basics, which I have done despite other trying to get me to change, you can cashflow properties and that doesn't change.I still have rental units, they still give me the same amount of money.

Basically, when you have a deal, get is under contract as fast as you can.....however, remember this woman could be bluffing and just trying to get you to raise your price.

Thanks for all of your advises, it turns out this agent is in the middle of quitting (or being fired) from the current broker and getting in to another; he has been sitting on doc for over 3 weeks (mostly basic REO disclosures that needed to be signed and return to selling agent) that he didn’t know how to pull them out of Windforms (Realtor Online Contract data base); asked seller’s agent questions about them over and over; lack of REO knowledge (REO Specialist printed on his card) and couldn’t care less for his last few clients…Relayed the facts above (with a little help from the selling agent) in addition to the tangible misled evident to my agent’s boss and got only 18 moths worth HOA fee ($810) credited.Yes, another rookie’s lesson learn; just didn’t think he would be that much out of line for a major issue like such; considering he’s a 72 year old guy with shallow ethic.

(your supervisor can be your wife, partner, etc..)So basically you make every attempt to deceive people in your attempts to market to them and close the deal and you pretend to have a boss to answer to even though it is just lonely old you?

The option payment basically covered either the repairs or the holding costs, but not both.

Just be sure to learn the basics first - successful people are not going to spoon feed you.Good Luck,Mike

I have an equity partner who basically wants to be the bank on my flips.

We have been landlords before (although single family) and my question is basically a financial one.

I understand the basic theory of bird dogging but I don't completely understand what type of information I need to supply the investor when passing along a deal.