Do i need to work with a wholesaler specializing in burnt out deals?

Chris, I don't want to give out specific names on a public forum, but it was sold to a buyer by an LLC as special warranty deed at the top of the bubble in 2006, and then quit claimed into a trust by that buyer a year later.

If that doesn't work, then you know you will have a tough time with those occupants.

Think about that, then explain how all of a sudden, because you're just a really special person, why that option is all of a sudden worth a few thousand dollars more?

It takes a special type of person to make the sacrifices that all veterans have made.

In regards to getting a lender/bank to subordinate in today's climate is going to be tough.

Most of the owners that are worth talking to are very hard to find, the only way to connect with these types of people is to be highly specialized and focus only on apartments owners and build relationships with them. 100 postcards is a good start, but i would recommend making calls EVERYDAY to actually find an owner who is willing to sell & is realistic about the value of their property.

Derek, It can be done for sure, in fact, some people specialize in rehabbing in similar areas.

Saint Louis is a tough market.

I outsource these types of deals to other SS investors in my area who want to work them in exchange for a percentage of the profits.There are 3 "gurus" who specialize in this niche and if you do some research on google you should be able to locate their courses.