Thanks . . . good info, but I'm not sure it is worthy of stickyhood.

Here is another question, with this new info I have about the 25% forelcosures could I re-negiotiate the contract?

Get pertainent info from your local assessor ie. legal description (using either the subject props address or owners name).

I bought the Elite REO Agent Package from [WEBSITE REMOVED BY ADMIN] They provide the direct contact info to the asset managers at 51 different REO listing companies.

Hello, I recently joined this board, and Im reading tons of good info.

Great source for info, Jeff.

PM me if you want his info.

Some of the info is kind of repetitive after reading his other book, but there is a lot of new and vital (in my opinion) info that this book covers.

Of 1 dozen 4 will call, of those 1 will not be a tire kicker.Also anytime someone calls your sign with a non-deal they're trying to wholesell, get all that persons info and offer to help them out.I've found that a semi motivated bird dog can bring you 3-5 solid leads a week if you stay on top of it.The hard part for me has been keeping those people motivated once they're first half dozen leads that they were so excited about end up going nowhere.

Chris thanks for the info, chris i also found out that my thoughts were correct.there is no set value, the value of the property is based on what makes sense for you to achieve your investment goals (that's it).some will say to not rely on the cap rate for your purchase decision (which i agree), but to use it to compare to other similar properties that have sold in the area, which is actually not reliable because 1. there will be less comparables, 2. how properties were purchased vary from deal to deal, 3. the inner workings of most transactions are confidential.so the best way to analyze a deal (while using cap rates) is to add your financing terms into the picture (principal + interest and etc) and calculate what the deal is really worth to you.see the normal NOI/Asking price = cap rate is based on if someone were to pay all cash, this is the return they could expect first year, but paying all cash for a property doesn't happen all that often (bank funding will be use for a large portion of that cost).so i found the best way to use this formula and analyze my deals is by look at all factors but also including my financing terms with my desired return objectives into the picture to get a proper view and value to me.