Originally posted by Sorin T:Good readinghttp://news.yahoo.com/s/bw/1106b4214044575550As their holdings of unsold homes increase, Fannie and Freddie eventually will need to drop prices and turn to investors, analysts predictThe bottom line: Fannie's and Freddie's strategy of not flooding the market with foreclosed homes may come under pressure as their inventory builds.They will turn to investors, but these investors will more than likely be large institutional or private equity firms with deep pockets.

It needs a deep cleaning and a few repairs, but that's about it.

Tes, I suggest you go to the library and see what you can pick up there for free.Then I suggest you get a good foundation for your realestate business by reading college level text books, yes they are dry, but filled with needed information that you won't find in any guru book or program.Read the forums and ask questions before you dive into some program.

Slow down, take a deep breath, RE is not something to jump into.

Foreclose, evict, allow the property to fall into deep disrepair, sell at a big loss to get it "off the books", ask Congress for a taxpayer bailout, repeat... always repeat.

I deal with a BK attorney who would facilitate note purchase and navigation out of BK court.I will only purchase the note at a a deep discount - repairs, market, what is unknown @ the property, etc., indicate anything other than a deeply discounted note purchase would be foolish.A few more questions:1) With the original owner out of the picture is there any way to proceed with a deed-in-lieu through the BK trustee/court in the original owners absence?

Once you get into more than 5 units, it becomes an issue of how deep your pockets are and how much paper you can carry without getting over extended!

Plus it sounds like he might have had someone not close before and he is apprehensive to dive in again.

Can you share what you've learned that you can tell people like me who eventually want to dive in to the development game?

The plan involves sinking them in as deep as possible before revealing we actually own the property they are trying to sell.