thank you both for your wise words, well anyway i guess i'm just so anxious to do my first deal. especially a deal like this were the homeowner is in distress and states to you how much equity is in the property (i know i'm a beginner, but i don't see how he'll benefit by lieing to me about the amount of equity in the property, because he already stated he doesn't want to sell the property, and i already stated to him i'm gonna view the property/mortgage paperwork)well anyway i must say i agree with you both, from first look it seems the best way to do this deal (thats if all the number are right) will be to purchase the house for the amount left on the mortgage, and give them moving cash and etc (this way i'll have alot of instant equity within the property, which i could either wholesale to another investor or put it on the market at a small discount and sell it retail because of the properties perfect condition, then i could even try a short sale to build up more equity to make the two above tactics more profitable for me)now the only tactic i can think of that would work, were they will get to stay in there house and will be profitable/beneficial to me as well is to then purchase the property real cheap (whats owed on it) and offer to lease option it back to them at a higher interest rate and at a higher property price, but i think this tactic will be risky with this individual because of his credit and the nature of work he's in (construction were some parts of the year your without work and tring to collect unemployment) so this is what i plan on doing, i first plan on putting together a list of questions i must get answers to at the tuesdays meeting i plan on having with them, then i plan on explaining the whole foreclosure process to them and the uphill battle they face (which i hope will change their position about not wanting to sell their house under any cumstances), then i plan on making a smooth exit and letting them know i'll be back in contact with them to let them know what i think their best solution is to solve their problem (this tactice is to buy time, so i can really cruch the numbers and speak with others to really figure out the best win-win for everyone, thats if their is a deal their)if anyone has any other suggestions please let me know

I do have a pretty good position, though I've been cutting back recently.

I have slowly been positioning myself to start a resedential rental business.

Just start with that and work up to minimize the cash out of pocket.The seller can take back a note or they can have an option on the property to protect their position.

Personally, you've spent $16,000 so far on education/classes.I'd probably cut back on the spending additional money on classes for the time being, and try to get some first hand experience.Try to get into a "bird dogging" position for one of the known to be successful investment persons in your area.

My ultimate goal is to have about 2000/month positive cash flow to supliment my pension income when I retire in 5 years.

To not record it could be fraud depending on your position and why the option was not recorded.In some states the option does create equitable title so there would need to be something other than a simple eviction.

It is amazing to see a country (UAE) position itself for the future.

hello;the deal from the surface looks good if you are looking at it from an equity standpoint. the key here is to know ALL costs before you sign away. with missing numbers from your plumber/Eletrician, you cannot make an informed decision. i suggest you get that asap to input all the known numbers and then make a decision. you don't want to find out later that the costs are high and that you end up buying a break even deal. because the positive cash flow on this unit is very low already, you don't want the equity to drop with costs you don't know about yet per the work that needs to be done to bring it up to par for rental.Sincerely,-vinh

Mike Collins is in tampa florida and runs the websites rehablist and yousell anyway they are offering a position as a gatekeeper to a specific county which means all their resources find the deals e-mail them to you and then you send them out to the registered investors they have in that county and which point you become a partner with them in the wholesale business and make a profit from the sale.