Might want to form a U.S. corporation - not that difficult for someone overseas to do.

The county's website is showing a property going to foreclosure with a loan balance of 119k.

You'll likely have to pay settlement costs, but here are some options (cheapest to most expensive):Purchase a property subject to original financing (depends on loan balance)80% first loan 20% second loanFHA loan (for owner-occupied multi family)Seller-financed property (if your credit score is 625+)Lease-option with small option consideration (not legal in all states)ARM loan (don't be surprised when rates jump soon)Private equity (get someone to partner with you and use THEIR money)Hard money loan (generally less than 70% of ARV for property)

I think current rules are the lender must drop it when your loan balance drops to 79% but you may have pay for another appraisal.

But that raises the next question (really I'm not being difficult here) which is: If you try to sell the option to another party, what is to keep them from waiting until your option expires and then buying the property directly from the owner?

anywhere i can find them...i am in the nyc area and it is very difficult to find properties that are cashflowing positive here.

The county's website is showing a property going to foreclosure with a loan balance of 119k.

I love how some things that seem to be so difficult are just obvious.

Aside from the usual stuff (IE..collection accounts, judgements, foreclosures, bankrupties), two things that will drag your credit score down in a hurry are a history of late payments and maxed out credit lines.So like takleberry said, pay your bills on time and keep your current credit card balances below about 40% of your available credit.

it is very difficult to lend on new LLC.