Prequalified means the lender has looked at the persons info and verified they meet their criteria.

There is a lot of RE info there and you can pickup a free foreclosure and short sale report also.Good luck,donrock

Any info would be helpful for this newcomer, thanks!

Alot of teasers about info that you will get.

I did get a Citi mortgage on a property for about 25K...but that was over a year ago and bank rules change every 24 hours it seems.I'd be curious if anybody has some solid info on this subject also...

See my blog to get more info on L/Os.

Ping me if you want that info.

There's a ton of great info here on the site for you to learn from, and lots of great members willing to give of themselves to help you and others.

A closer look allows you:1) To confirm if the house is vacant2) You will start to see some houses with REO letters (bank owned), I avoid, lock boxes (means someone has an interest in the property already) avoid, Tenant eviction notice (has landlords contact info and they will be motivated), foreclosure notices etc.3) You will get a chance to network since you are out of the car- you will meet neighbors, where you can get the story on the house, contractors (mowers, handymen etc. which can give you info on the house as well as several others)4) You get to understand the condition of the property by seeing it up close.Driving your farm are in my opinion is highly recommended at least once a month (a lot happens in a neighborhood in a month), but is still one out of the 10 or more you should regularly doing to find these properties.Personally I feel there is a moral obligation if I am going to put a property under contract that I have the intention of closing it myself if I can not find a buyer.

See the Lease Option Page on my RE blog for more info.