I'll post more when I finish it early next week.

If he hasn't really messed up his credit with the late payments, and the values are correct and are the complete story, he may be able to refinance and get enough money to pay the taxes and legal fees.

Sooo....anyone close a good REO deal lately?

I've been curious lately about how lucrative and costly it is opening up a timeshare resort.

easy because you're not sitting on land, you're not busting your butt or contractors butt to finish a rehab, etc.you're purchasing with assignment rights and you're buying at a signficant discount so that if you cannot wholesale to investor (a possibility, but more than likely, if you've done your networking homework, not going to happen) - you'll be purchasing a property signficantly under market value (over 30%).with foreclosures - that's different.

For example, if some took out a loan at 8 percent for 15 years and then maybe a few years later can get that loan refinanced at 6 percent (which will extend the period of the loan, as it will start back to 15 years again) how does one determine where it is too late to feasibly make this transition considering that the one is getting a lower interest rate, but extending the period of the loan at the same time.

add yourself an extra 'out' as well:Subject to: being able to sbdivide the parcel into smaller lots.if it's not too late, how about:Subject to: being able to subdive the parcel into smaller lots and the other guy who is subdividing his parcel will buy my new lots.

Granted this is just my opinion, but it is based on 28 years of experience (including the '80s collapse of the TX market) and some careful looking.I've noticed more For Sale signs in Austin and San Antonio lately, including too many on NEWER houses in NEWER neighborhoods.

Yes, the tenant will pay all utilities.What I left out was that there is a finished basement with 1B/1B.

Make notes and map out the timeline from start to finish.3.