All Forum Posts by: David Hopson

There is a great deal of land surrounding the house. Would it be an even better idea if I could get the house really cheap, knock it down and build another larger house in replacement?

If you are looking for individual properties and the banks that they come from then here you go:
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp

If you are looking for bulk sales, that is a bit more complicated.

I had this in mind, but I wanted some clarity on it. Is it possible to purchase land, have a professional draft up a plan for houses and sell both the land and the plan for a large sum of money?

Not to far from where I live is a house that is abandoned and boarded up. (I live in Canada) I know that I am going to have to find either the owner or contact the bank. I am 22 and a beginner in real estate investing. My plan was to buy, fix and sell, but I was wondering if it were possible to get money at closing to cover the mortage until I can get it sold in the spring of 2009. Can anyone give me more insight on this?

Bruce I feel your pain and Im in the same pair of shoes except Im 22 and I live in Canada so imagine how much more difficult it is for me. A suggestion and its up to you to take it or leave it, but try partnering with a veteran that has accumulated a great deal of experience in wholesaling. It may be temporary but it's something to consider until you find exactly what you are looking for.

I went to a bank and spoke with the branch manager about power of sales. Basically what he said was the same thing that Louis said which was they list it with agents, but what I did was give him my number to have an agent call me, because only certain agents get listings/properties from banks.

I am in the GTA and looking for the same thing. Anyone interested in starting a group?

From my personal experience giving my money to one of those seminars, DO NOT! They will get their first chunk of money from you ranging anywhere from $1000 - $3000, then tell you that you need to pay approximately, $50,000 to really learn how to do things properly. My suggestion, read books and talk to experts that know their stuff and are willing to coach you in your endeavors!

A contact of mine was telling was also telling me that Citi was going under.

Wouldn't it also be smarter to get your buddies to do most of the work on your own and get contractors to do the rest?