My team is convinced we can pitch it to our investors for around 250K (with some room to lower the price of course)...and we were going to offer the bank 175K....which is 75% of the foreclosed mortgage that was owed.Yes...they are preliminary numbers, but can you see why it looks like a good deal?

I've also been investigating various wholesaling strategies.

How come nobody investigate it?

The reason I ask is because he talks all about proper ways to investigate commercial deals.  

A lot of you analysis comes from the backstory regarding the property (and Joel offered a few great examples) and as an investor you have to be able to investigate that for yourself.

You can usually find enough to get a good preliminary idea, and the fact that it's map based really helps.

Our Recorders also collect a Preliminary Report of Transfer (voluntary) and there is a place on that doc to indicate what kind of transfer it was and whether there were encumbrances.

I actually started reading the BP beginners guide...exciting stuff.I will investigate the REIA club meetings too.

Jason, I would have to say that is one hell of a coincidence, but more likely, your investigations uncovering the details and the threat of getting the agent in trouble IS why you got an instant call back!

He should be expecting his expenses to be closer to 65% of GOI based on the taxes.That's what I thought -- I just wanted to clarify so Sean F. did not use the 50% rule and then further alter the amount be deducting Taxes and Insurance.I think the numbers (with the 50% rule) look good enough to warrant further investigation into actual numbers to see if the high tax number creates an issue.