I went to my first Sheriff’s Sale today in Somerset County.

@Cody Skidmore  I used to be an independent sales rep for the sporting goods industry.

Its under 50K and the selling realtor texted me and said her client is only paying 3% of the sales price and that her minimum fee is $1500 and that I have to pay the difference if 3% doesn't cover it.

Regardless, you will want to find a broker that you like working with and specializes in a particular product type with experience doing 'Investment Sales' within that product.  

Thus we are now suggesting to owner that he sell to an investor and contractor that could purchase "as is" and complete the project for the comparable $50,000 market value in the area, the owner has refused to sale and is holding us to our lease.

Some banks call in commercial loans and freeze HELOCs when the value of the real estate declines.From reading stories in the business press, many "rich people" in 2007 were not so rich in 2009 after being forced to sell their illiquid holdings at fire-sale prices during the 2008 meltdown.

I will be doing more buy and hold rentals in Indy as I have a pretty good medical sales position that offers me some good cash flow for investment.

If you have any other questions about MFHs for sale, rents, or locations, please let me know and I'd be happy to help.

As far as the due on sale clause.

Patiently waiting to close on the sale of my first flip.