Title company called me 1 day later saying there were 2 liens on the house totalling $51,000 - both the seller did not know about.

Sold for $176,900 on 2/25/11, 24 DOM (I know its quite a long time back)#3 - 3/2.5, 1440 sq ft. 1.5 miles away, Totally rehabbed house sold for 205k on 8/18/11. 65 DOM.#4 - 4/1.5, 1556 sq ft. 1.2 miles away, Totally rehabbed house, builder grade fixtures, sold for 219k 8/05/11, 6 months on market.Will give more details but Im out to meet my contractor at the house.

On the silly end, I have Enjoy Suduko, WinPoker (a video poker training program), and recently found Nyan Cat lost in space which is a totally stupid but fun time waster.

.- New sub floors in Kitchens where needed , and then Linoleum floors in kitchen- Total Cleanout 3-4 Roll Off Dumpsters for left behind junk- Linoleum in pantry 4x8- 2 Bathrooms - Needs new linoleum and 1 needs Sub floor- Bathroom walls - rip off old plastic tile in one and make drywall and paint - Ba 2 Needs Rip off wall paper and skim and paint2 - Living room Kitchen & (2) Dining Room and 3 (6)Bed rooms Refinish Hardwood floors on ea floor so x22- Living rooms, kitchen and dining rooms, remove wall paper and skim coat, and paint all walls and ceilings2 - Living Rooms and windows remove all trim and replace with new and paint ( lead Paint )2 - Repair Bathroom Ceilings and Pantry Ceilings and then paint6 Bedrooms Fix Drywall, paint walls and ceilings2 Bathrooms install bathtub wall panels2 - Install Kitchen Cabinets , and countertops, and Sink in both pantrys2- Install Dishwashers including pipe, drains and elec in two pantries2 - Over stove - More cabinets in Kitchen @ 6 ft top and bottom with countertops2 Install washer and dryer hookups after bringing power to locationApprox 150-200 ft of Asbestos removal in basementalso what is the lead time to do all this..?

Seems totally inappropriate to be examining customer's bottoms.

Kalyn everyone wants cosmetic properties.You will find regular home buyers do not have to resell and will accept way less of an equity position and pay a higher price to get a home cheap with a low monthly payment.Their goals are totally different than a rehabber.This is why a bunch of success is taking on properties where a home buyer is not a competitor but it drives down the price with the property not being loan ready.If your offer of cash is just slightly lower than a finance home buyer the asset manager might still choose you.If there is a wide difference the asset manager might take a shot with the finance home buyer to net more.It depends on a bunch of factors which is being at the right place at the right time.You also have to understand local,regional,and national banks make decisions in different ways.Kayln are you offering to let the listing broker keep all the commission are are you getting greedy and asking for the co-op??

And financing small properties (<50k) is notoriously difficult with any lender.It seems you would want:* A diversified roster of lenders - 15 or more preferably with $100k+ each to invest (meaning a total asset portfolio of $400k+)* Work with their fee-based financial planner if they have one, or recommend they utilize one, to fit this lending activity into their planning process.* Use 3rd party loan servicer with escrowing* Facilitate cashing out lenders early by matching with other lenders.

He said that my private lender can only do a total of 4 transactions, anything over that would fall into some type of mortgage lending/brokerage scenario.

Pressed piles cost about 200-300 each depending on how deep they need to go (total foundtion repair likely about $10,000 for a 1,200 SF structure).

.$150k ARV-35% (20% Profit, 15% Closing/Holding Costs, Etc)-Repair Costs-My Assignment Fee=Maximum Purchase Priceor$150,000-$52,500 35%-$40,000 Repairs-$10,000 My Assignment Fee-----------$47,500 Maximum Purchase PriceI would assign the contract for $10,000 for a total sale price of $57,500.The Investor has a potential profit of 20% or $30,000.If it doesn't sell at that price I can lower the price $5,000 and still make $5,000 on the deal.