This has already happened and bankrupted people here in Orlando; I remember reading about it in the paper a few months back.A likely result in this market, with a legitimate company looking out for a win win situation, is that they end up having to hold onto the house for longer than they hope, taking lower amount of money if they do find a buyer, or dipping into cash reserves to keep from losing your shirt.HOWEVER, there's also a much worse possibility: They buy the home with a low price and using your credit, then they find a lender who gives them an equity loan as a line of credit or a straight second mortgage [without your knowledge].

Stuff that helps people remember you, bond and otherwise get to know you better.John Corey

Now if they are willing to take a loss on it, then you might be able to make it a deal.The bottom line, again, being that it needs to hit YOUR numbers, and remember to be CONSERVATIVE in your estimates.

Make no bones about it, this is being watched by other legislators (maybe from your state) and with the cumulative issues that exist in the real estate market/industry today (not to mention all the bashing in the media and growing public disdain), this could just take on a life of its own and spread like wild fire (to other state platforms)...Some of you might be reading this and say, "Scott's a lender and this is a self serving crusade from a self-important blowhard who sits at a table for one

I just read the original thread---juicy...I can't answer the where, but I'm going to take a stab at what to look for (which is at the core of the question---you have to know the "what" before you can find the "where"): - Follow the employers---seek areas where employment is both vibrant and growing (job growth leads to migration patterns---people have a tendency to follow the money)- Seek a community with current or future infrastructure expansion intentions.

Lonnie I will definitely remember that!

Remember, Federal law doesn't permit them to BROKER sales, but just like any other property owner, they're afforded the legal right to sell their own property without a license.

Can't tell you how many times I've seen that scenario on TV.Just remember, during the "great depression" some industries and business had record sales and profits and a lot of people became millionaires.all cash

The big thing to remember in an underwriter's world is that if it isn't documented, then it doesn't exist.

Each unit rents for 1700 if i remember correctly.