basically, "creative financing" makes that whole schtick possible.

I don't have the experience you folks have, but I see basically the same thing here: houses sitting on the market, being taken off, even rentals sitting empty, few people even looking.Builders have stopped building in my area, but there is some commercial construction on the other side of town.I wonder, is it time to take all my pennies from the bank?

Not that I recommend that.First, what REI said ... get at least three qoutes from reputable contractors.Second, learn the basic trades yourself.

I would suggest doing a lot more research before you jump into it. the basic allowance for a small commercial aqusition and development is at least 10k out of pocket for start up costs.

It is an interesting concept as they are regulated by both the SEC and the DRE.

This is one of the best places to learn the nuts and bolts of REI.But there is also no substitute for education in the "basics" of life.

Here is some basic info.There is no requirement that the lender on a piece of real estate has to be a bank or regulated financial institution.Sellers can choose to accept monthly payments rather than being completely paid off when they sell.

His cousin is way behind on the bills and needs to get out of his house before it goes to foreclosure.He is sending me the basic info, including note amounts, property value, address, possible repairs, etc.Then what?

Hi Kiran: Supplementing John Corey's Post: 1) TX has basically not allowed residential lease options. 2) I review most lease option material.

So long as we all believe in that value-concept all is well.