Hey REI, :protest: I have to deffer with you on this subject because in some states All Pre-foreclosures for certain county's are posted in small news papers and at the court house.

I knew what every house sold for on all surrounding streets for the last 3 years before bidding.When bidding (at least here in PA) you are basically making a sealed bid.

Instead of going after them in small claims court (they don't have any money) I would prefer to report it as income to the IRS for them and let the IRS have a chance of getting some taxes out of them.

And as a tenant, why would I rent from a landlord who doesn't trust me and wants to basically have a default judgement against me before I default?

It's been a while, but here in Washington State I believe the banks are required to deposit the funds with the court system for a set period of time and the past owner was required to petition for them.

hello everyone, well anyway i'm a new investor and after some research i decided to focus on pre-foreclosures.well anyway i was told of a strategy that i could use that didn't involve the use of any of my money or credit and will allow me to actually retail these properties to end-buyers and not just wholesale them for a small profit to other investors, it sort of goes like this.1- locate and market to the people in pre-foreclosure, 2- once they contact me setup an appointment with them, 3- setup a land trust with them ( which they will be the beneficiaries and either me or a disinterested party the trustee)and have them sign a "warranty deed to trustee" doc which i will record at the my local court house, 4- also have them sign over there beneficiary interest to you which you'll store away for protection of problems that might come up in the future 5- start marketing the property as well as working on the short sale with there lender, 6- once i have my end-buyer (and hopefully my short sale is accepted in time) have my title company perform a double closing to pay off the first lender as well as myself, and to give the end-buyer clear title without any seasoning issues coming up (which i was told there has to be two separate HUD's, two separate escrow accts and etc)so my questions are: do i have all the steps down correctly or am i missing something?

You don't realize it yet, but you are basically at break even on your portfolio.

Usually when the interior won't respond to pretty basic cleaning techniques, the porcelain glaze has been worn or etched off.

Consider adding some basic contact info to your signature.

I find all the houses myself, I basically do everything--I feel obligated to stay w/this guy for some reason..Anyway, my question is if I ask him to ;ower his %, how does this affect me with a purchase?