I told him I would do some research and see if it would be beneficial for us to put the $ and time into schooling & licensing.

hello everyone, well anyway i'm a new investor and after some research i decided to focus on pre-foreclosures.well anyway i was told of a strategy that i could use that didn't involve the use of any of my money or credit and will allow me to actually retail these properties to end-buyers and not just wholesale them for a small profit to other investors, it sort of goes like this.1- locate and market to the people in pre-foreclosure, 2- once they contact me setup an appointment with them, 3- setup a land trust with them ( which they will be the beneficiaries and either me or a disinterested party the trustee)and have them sign a "warranty deed to trustee" doc which i will record at the my local court house, 4- also have them sign over there beneficiary interest to you which you'll store away for protection of problems that might come up in the future 5- start marketing the property as well as working on the short sale with there lender, 6- once i have my end-buyer (and hopefully my short sale is accepted in time) have my title company perform a double closing to pay off the first lender as well as myself, and to give the end-buyer clear title without any seasoning issues coming up (which i was told there has to be two separate HUD's, two separate escrow accts and etc)so my questions are: do i have all the steps down correctly or am i missing something?

When I started to research this, what I had in mind was simple, I wanted to "flip" a house.

actually im learning that the more research i do i need to look to contact local agents anyways.

Others just let me know when they're ready to make a move, and I research what's available that meets their requirements.I still end up having to comb through a lot of listings manually, of course, but knowing how to work the database of a large city's MLS makes my life a lot easier.Good luck!

Here are a few potential services:Market analysis, locating and researching lenders/brokers to meet financing needs, locating and researching property managers, exploring the market trends, past and present, pulling credit scores, researching inspectors, and assist in various tasks during the due diligence phase.I appreciate your feedback!

In researching all of this I've also discovered that in PA you can not withold more than one months rent as a security depost after the first year - which he did.

Once I do some more research and find out how to get some funding, I can't wait to close on that first deal!

im trying to become more acquainted with the foreclosure market and have been doing some research on certain foreclosures here in my area but i am unable to make it to the auctions to see the final selling price and to see if the original lender was the one who purchased the property becuase i work monday through friday.

Do you research on the cross-collaterallizing as well.