Most sellers indicate that they are trying loan modifications (about 90% want to stay in their underwater home)...Anyone having success using other methods for marketing for short sale sellers?

Originally posted by Dave House:...In hopes of keeping my friend in his home, we've discussed the possibility of me buying the home before BofA forecloses and then either renting it out to him or selling it to him while holding the note....Please be careful in what you are planning to do; the piece that I have in this quote indicates you are planning to do a "sale and lease back".

.* Adding in any contingent liabilities, especially if a share of the asset related thereto appears on the balance sheet.It was common to see that someone whose personal financial statement indicated a $5 million net worth would be reduced down to $1 million or less.

They indicate this is not a bulk auction.

This was an indication to me that the owners were having some sort of problems, either theft and damages, or they just weren't being rented often enough.When you search for cabin rentals on some of the management company sites down there, you will find literally hundreds of rentals available at any given time.

These figures change if the LLC (group one) is held in a personal name but I don't believe to many investors will follow this route.I have not included the calculations that apply to capital gains but believe that there are similar substantial taxes to be paid when trying to expatriate the funds back to Australia.I look forward to some real life experiences and hopefully revelations as to how some of these tax costs can be minimized.Regards PS Forgot to add the overlay of a state income tax that could also apply depending on in which state you elect to invest.In Georgia there appears to be a 6% state income tax which I would have thought applies to the net earnings after expenses but information gathered has indicated that it is simply 6% (or whatever) of the federal tax to be paid.ie (76800 x 39%) x 6% = $1797

Perhaps if enough people get the word out that they would find fewer suckers.

Seuss).In fact, FASB recently issued a statement indicating that they will likely be moving away from mark to market regulations concerning real estate (at least for bank's).

Fannie/Freddie guidelines indicate that Net Positive Cash Flow (NOI-vacancy-reserves-P&I) goes to Income.My lender at US Bank tells me that for new purchases, or for other properties you haven't owned long enough to have a track record as documented on prior year tax return, they use (per Freddie guidelines) 75% of lease income, and that the 25% only covers vacancies.

The numbers in your post that indicate value - 92K and 130K-170K are quite a bit apart, and very far from the asking price.