Rapport BuildingYou need to get face to face with the seller first.Marketing 101 For Terms Deals Here are 5 prospecting ideas.A.

@Daniel Mohnkern   By leaving everything in the name of the seller and not receiving the deed and putting 20k into rehab then you are taking a huge risk, even if you have a strong contract outlining the deal if the seller decided to take the renovated home and sell it quickly on the down low then I would be faced with litigation, attorniey fee's and a lot of time fighting to get this money back. 

I already know the challenges that I face ahead of me as far as finances.

I have had some very social friends who lived on flag lots in NJ, it really was only a challenge when people couldn't find their place.

In addition, try to meet at least one new person each week face to face.I did this in the beginning and it has paid off with huge dividends.Good luck and keep pressing forward!

Except from contractual payments, i have to put 15-20 k usd for interior/decor/furniture and i will be able to rent property 1 for around 700-1000 usd/ mon, and latter for 350-400usd/ mon.Tought thing is that our country is facing cash shortage, property prices going down, local currency (som) ex rate falling, and people are unsure about the future economic situation.

Hi,i'm pretty new and trying to figure out how things work, i did read all the books available on bigger pockets and i still have questions. it seems a deal is usually made by a face to face contact with a desperate seller.how to find the desperate sellers?

Based on earlier conversations between my broker and the selling broker, I knew the seller would want to negotiate and not take my estimates at face value, so I started out much lower than what I wanted the final number to be.  

I would not know that if it was staring me in the face..

I was never  able to do this prior to a trustee sale and I think it might be difficult given the mental state of many facing foreclosure but not impossible..You really have to do your best to estimate the loan balance on the 1st using whatever information you can get.