Originally posted by "jolllyroger":If you make a deposit why would you need a contingency.So you can get your deposit back if due diligence indicates it's not as good a deal as was presented by the seller or the initial inspection...If something turns up that was not disclosed recover your deposit.You can't necessarily do this if the thing that was not disclosed was not disclosed because the seller didn't know about it.For example, a contingency on inspection would allow you to check for termites.

So I guess that my plan is to put bids on properties as if I'm going to hold them to the river (i.e. make sure that they're positive cash flow after paying everybody that needs paying / generate sufficient IRRs), but to the extent that I can, I'd like to flip them for a quick profit.

That's a later stage in the process, and often happens several months after the initial purchase is filed.

Me: I study the real estate, and no, i don't market. maybe i should clarify that position. by "not marketing," i mean that i don't spend the majority of my work hours running ads and recruiting. i tell a few people here and there, i've run a couple of ads (i don't anymore, it wasn't for me and it takes too much of my time), but if i generate extra income from that, then good for me.if someone asks how i know what i do, i tell them. if they follow my path and join, then i make money there. then i take that money, and apply it to more real estate. it works out pretty nicely when you think about it.

With that kind of cash you could easily afford to buy into a REIT, or some other profit generating real estate investment, however with that said there is some risk there, you may loose that money.

I don't think the banks are getting their initial asking prices.

I'm looking for something that is going to generate more than 1% response typical for direct mail.

"Magic" formula's should only be used in the initial processing stages.

I post articles all over the place on the internet and it is VERY effective.I mainly post on ezinearticles.com now because it is the most effective.I also post articles on prweb and that generates good traffic but that does cost.Don't put the same article on all the article sites.

Initial investment 26,000Closing Cost 1,500Paint 4,000Total known investment 31,500 Payment 30 yrs 6.5 % = 200 per month.This is could be a good deal in your area.