My Team gets some Probates, some Short Sales, and we get REOs.

This is a short term deal for me, probably only 4-5 years.

Frankly, I think the market bounce after the fall a few weeks ago was just going to be a short-term, pre-election bounce.

I do not wish to criticize, but I have found the Norris Group's postings (here and elsewhere on the Internet) to be long on theory and short on detail.

Even if you use add your cash flow toward the new furnace, that still leaves you short by $1,450.

The bank can't deal with you to do a short sale without the full cooperation of the owner, and you can't get around the agent unless the property goes to the bank at the auction.

If you know what you're doing it leans the odds in your favor, but it's still a very risky short-term investment.

I have picked up the management of properties from investors that shortly after closing realized that the realtor didn't really pay attention to what they truly wanted or just didn't understand.

You should be able to look at the loacal MLS on line, the REOs are listed and will show up there.The ONLY WAY you get to a PRE-FORECLOSURE is by working with the homeowner, and the HO and the lender, NEVER through the lender alone, the lender has no say in a deal unless it is a short sale and then, basically only to the extent of an acceptable amount paid to the loan, with conditions.And anyone who tells you that you don't need to understand your market area, just sit there and buy and I'll do the work, is someone, IMO, you should not just walk away from, but run from!

I pointed out that both seemed a bit low-ball but if he would take a net out that was based on roof and kitchen each costing 20% more, we'd take it.In short order we replaced the countertops and floor (about $1,000), re-roofed in my spare mornings and weekends (about $800), and cleaned the carpet.