If the situation warrants, I make an offer through a letter of intent, which spells out the low price I am offering, and maybe an option for a slightly higher price but with great terms (or both a low price and terms :lol: ) Good luck, Mike

When banks do these loans, they require significantly higher down payments to insure their equity position in the event of a foreclosure.

I reworked my plan for the complex and refinanced last month at a better interest rate and a higher value letting me pull cash out faster than I imagined.You can run the numbers in your head or on the back of a napkin but you can't present them to your finance guys that way.

(the house next to me sold for 275, even thow it is much larger and newer) but i am about half done renovating it and am looking to buy another when i sell this one, my question is i currently have 40k cash, should i save more maybe 60-90k before trying to tackle another, im looking to really get into this, and am hoping to find a higher end forclosure witch could yield more profit.

But, if you live in a very competitive housing area it may not matter, you can off-set some of these costs with higher rent/deposit amounts and the like.

The up-front price point was much higher than our realtor product but we almost never had a price objection.Here is a sample of the comments we recieved after we sent a demo listing to their phone.

Further, a well advertised property will generally get a higher asking price.

They drop value at a much slower rate when the market is going down.They are much easier to find good tenants for and they are certainly easier (and faster) to sell for a higher market price and less reduction in the asking price.There is more to value than just price.

Some of the properties that I checked into are also for sale for a much higher price, of course.

Normally my houses are for sale lower than the houses that are forclosed on.I get my leads from distressed sellers and get it under contract for low enough that buyers would rather buy directly from someone like me at a lower price than have to deal with the bank at a higher price.