So, the message here is biased toward acting, but that does not mean that you can skip a good education and your due diligence on potential properties.Working with a realtor who works with investors might be a great way to get started.

Since you are in this for the long term you should do really well (assuming you buy correctly and do your due diligence.)Buying and holding for the long term is always the best route to wealth.

Point is to have the investor complete their due diligence on everything.

The banks may not consider your offer as seriously if you are getting conventional financing, but there is absolutely no rule that states that you can't get a traditional loan against an REO.As for inspecting the property, my guess is that the bank is stipulating that you have no "due diligence period" after the contract is signed.

Due diligence revealed it sold for 28k in 2008.

I'm not familiar with the state and local restrictions so this should be part of your due diligence.

We always have the client put down $1,000 in earnest money that is refundable for any reason within 3 days.The buyer gets 3 days to complete their due diligence.

I have a "due diligence" period of fifteen days during which to inspect the property.

If you read, and study diligently, and take ACTION, your questions will answer themselves 99%...As a Beginner, you have a lot to learn.

Download BP’s newest book here some good due diligence in Chapter 10.