There is always a chance the trustee could succeed, however, there is also a chance you will get struck by lightning.

Most Realtors will work with you on finding deals because they are looking for commissions and if they help you find a good property (though I have never gotten a GREAT property from a Realtor) there is a good chance that you will sell it with them - sometime.

You know that breaker 11 trips when you plug in the Christmas tree lights and run the vacuum, etc.This is a chance for you to see if landlording is something up your alley.I would be hesitant about renting to friends or family if you want to stay on good terms with them.I all comes down to cash flow.

The seller can rehab before I close or I can buy it and rehab my self and the seller will give estimated rehab costs as credit at closing.

Has anyone gone down this track, of suffering the first few years, and then gaining a nice return, and how long do you estimate I'd need to eat ramon noodles for?

:)Heathen: Just to clarify, what you are saying is, if the house that we buy @ $200,000 which fortunately appraises to $300,000, we stand a good chance to get at least $240,000 loan approved by the lender?

What are the chances of trying to purchase the property (i will be the principal) during the time of the Trustee sale (i will attend sale to track the sale) and before it is listed as an REO assuming no one buyes it at the Trustees Sale?

Obama just showed his inexperience in International politics, and now if he gets elected, there is a very good chance Iran, or someone else, will actually think they can get away with attacking Israel and the USA will do nothing.The president's main job is International politics, and Obama took his eyes off of that and looked at temporary political advantage domestically instead.Since I think we are going to have a Democratic president next, and I suspect that it is going to be Obama.

I estimate the value of both together around 300-400,000. it was worth quite a bit more 12 mo. ago.

We have all the estimates for the repairs (had to show that to the judge before he gave us the extension); will get the permit this afternoon and the roofer should begin first of next week.