How do I generate more leads that I know what to do with in the area of short sales?

I did forget to mention that I am putting 30% down and paying cash for the renovations.So my figures look like this:purchase price 200,000deposit 60,000Mortgage 140,000Gross rents: 2,500 p/mNOI: 1,250 p/mMortgage: 931.42 (30 yr 7%) p/mCashflow: 318.58 p/mI guess the main issue is the amount of equity I am using to generate the cashflow. ($60,000 deposit + $20,000 for renovations =$80,000) Also the built in equity of $100,000 as a secondary factor has to be considered.

realty trac is a lead generating website.

The only two factors that truly matter when determining value are the price at which you could sell it for or the amount of income you could generate to service the debt.Anyone contemplating a purchase solely based on previous appraisals, current list price, or loan amounts, stands to lose their shirt.

I'm hoping to be able to wholesale a deal or two while I'm flipping this one to generate some extra cashflow while my money's tied up.Any words of advice for a wannabe wholesaler?

Several people have provided great feedback here and given some solid strategies that anyone can use in their business.I for one, know of several people who solely use the internet for their lead generation and they can barely keep up.

There are several factors, but most importantly the 2007 taxesremain unpaid as of today, which is a direct violation of your mortgage.The other factor is because of the fraud on the initial loan application,and the declining mortgage market, the pay history on the loan since we havebeen servicing it, has made it impossible for us to sell the loan.

Perhaps in your situation and your area where you will be investing, you will have a different thought on th matter.The multi unit WILL get you into the RE investing biz and give you some initial and needed experience without biting off more thna you can chew.

I tried it out it was more of a lead generation service I was only interested in DC, MD and VA the areas was too far from where I lived so I canceled.

Right now I am offering half off to homeowners and the bigger companies like the apartment complexes and lofts I sent a letter offering to put there properties on my site for free until I generate some leads.