I was wondering ( I have not done a short sale but am in the education stage) if a REI could get with the seller who is in foreclosure, help them to work out a forebearance or repayment plan or loan modification, with the idea that the REI would then take over the loan Sub-to, pay the seller some kind of fee, get them moved out, and then you have yourself a house to either hold or later refi, wholesale or sell on a rent to own.

Just the facts of the business.Might I suggest, in light of your question on how to get paid being a bird-dog or wholesaler, that you might want to take this summer to focus more on educating yourself.

Don't over leverage or your out of business..

Thanks guys for the entertaining yet educational debate.Any of you seasoned REO investors wish to share the keys to success in this niche?

I have the drive, passion, creativity, and persistence and I know how to effectively leverage my resources. 3 years later...I am still a talker and not a doer.

Our attitude is, if we make a profit GREAT, it we break even it's a free education.

Not that I recommend you doing all you own law work but it helps educate you on the issues.

Welcome to BP, Quincy.Sounds like you will be getting a good education working or a development company.

All it does is make them look like self-righteous jerks, running other people down.Generalized complaints about the lack of education in this country that are not directed at a specific poster aren't included in the above rant.

I suggest you start doing some reading on the forums about bird-dogging, wholesaling, and any topics on investing with no money.There is no one set formula that will work for everyone, so you'll need to educate yourself and then establish a plan.Do a little reading and come back with some specific questions so we can help you out.BTW - Please do not post in ALL CAPS.