Unfortunately banks are balking at these loans b/c I guess they see them as more risk/exposure as well as alot more work involved to underwrite the loan when they can underwrite much simpler loans and make the same money for alot less work.There are definitely banks that will do it for you, just have to find the right one.

I'm just getting involved in the market and don't agree with the typical terms, but in Orlando here is the standard:1) $2,000 deposit2) Non-refundable3) No inspection periodSo, as you can see, you really have to do your due diligence and know your stuff when dealing with wholesalers.

Enrie, Your best bet is to spend some time on the site and learn more about the "flipping" side of the business.

Don't be afriad to jump in and get involved!

There is a lot more involved here than just an opportunity to seed my investment in rental real estate.

For more info on my RE involvement, check the Meet the Investor section on BP and/or see me in Denver for the BP 1st annual seminar in March.

I say of course, start writing the offer while i go look at it, but I will bet it is in multiple offers already.

I spoke to an investor today and was told that bird dogging is illegal in Michigan and that you have to be licensed to be involved in real estate investing.

Chris: Thanks so much for your words.My cousin and his lawyer (swindler) are just stonewalling me and everyone else involved.

Anyway, I am mainly inquiring with you guys because I've never been involved with an REO, so I don't know if it is worth trying to negotiate over these things.