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So a short sale is a long investment. Your buying it for market value.

On average how much of a discount can you get from a short sale?

Ok, so I found all the information that I was lookng for at the recorders office. One thing I am noticing is that almost all of the people that have a Notice of Default on their trust deed owe more than their house is worth. Is this normal? Is this one of those things that you just have to keep looking until you find something? Is there a better way of finding these pre- foreclosures?

I live in Orange County Southern California. I went to the recorders office and went on the computer there. I looked up some NOD's and found some. My problem was that it didnt have an address or anything of use on the NOD. Am I doing something wrong or looking under the wrong thing?

What is a portfolio lender? What do you mean by keeping it in house?

loki005,

Contracting Deals? What is that? Is it like the middle man? How does it work? My friend was talking about something like that but he couldn't explain it to me that well.

We don't know yet. I have looked into flipping, rental, and foreclosure investments but they all have their pros and cons. I just want to find what’s right for us so we can be successful. One thing that I am trying to understand is how much money do we need to start. We have 130K to start with, but what does that mean. People always talk about their no money down or with little money down. I don’t see how that would work. Both my friend and I don’t make that much each month. We would not be able to get approved for such a loan nor could we afford it.

I would love to acquire as much rental properties as I could so I can live off of it and retire from my day job someday. Everyone talks about how they borrowed all this money and put only so much down. I’m only a teller at a bank. I couldn’t afford the monthly payment if something went wrong. I don't even think I could get approved for so much. My friend and I have 130k and would love to buy apartments or other types of rental properties. How was everyone else, who doesn't make that much at their day job, able to take such a loan to buy their apartments and other rental properties?

Thanks! My friend and I are looking into investing together. Since this is going to be our first time we are trying to get information from people who were in our shoes at one time. We want to learn about the different ways to invest and also find which one is right for us. It’s hard to do something like this because we don't have people who are close to us that do this for a living. We can't use a friend or relative as a mentor or even partner up with them because no one we know does this. So, I am here to learn in order start our adventure.

Just wanted to say high to everyone. I am new to real estate. I am taking everything one step at a time and looking for knowledge. With the current market, I am hoping to start my real estate adventure in about 8 to 12 month from now. My future goal is to invest in real estate for a living.