. - As the others have already said, thank you for sharing your experiences (though I'm sorry about the trials & tribulations), as I think these serve as the perfect example of why the 50% rule is really so very important.

I myself broke down the total payment which Chase is requesting as a trial payment.

That takes some time and some trial and error.

After many trial and error, I think we finally reach a point now that we could kind of differentiate good repair from bad repair and how much it will cost.

It's taking me months of trial and error but good lord wholesaling is the real deal!

I'll sit right next to you at the trial, Mike!

A wrap or AITD transaction includes you transferring title to the buyer and taking back a lien (trust deed or mortgage) to secure the loan you are extending to the buyer.A variation that some will use is a land sale contract.

The broker’s loan is some variation of an interest only loan, but it also gives you the ability to make a minimum payment that is less than the interest only payment.

A variation of straight seller financing is for the seller to carry back a second so that you can borrower the funds for repair but not to purchase.

Ok so I'm looking for a property for myself to live in.....I currently have one that I bought at 60% of market, so I've got some equity in it......Plan to sell it as soon as i find another place to live.I'm real new to REO's, and was just looking on yahoo and found an REO that just came up in the area I'm looking to move to.Now I did some research, found some info on realtytrac, and the other through my local tax records......says it was sold to Groff Real Estate Investments on 7/30/07 for aroudn 200k.....it just became listed on realtytrac from what i saw (just signed up for the free trial to get the parcel ID)Guessing its too late for me now to do anything?