Quote Originally Posted by Danny
thanks EX girl, i have heard of the word FLIP being illegal befor, but i forgot to look into the exact meaning. thanks alot

lamar, yea, commision will bite you. but thats all part of the game, you have to have a viable project, and take all that into consideration.

john, personally, i dont work with forclosures much, thats not my side of the bussiness. But, the people i have talked to make it seem like you can only pay cash at the steps. But are you talkin about somehow buying befor the bank puts it up for auction? more info would be great, thanks man.
well when you got to auction, you must be a cash buyer.. but there are several companies that list and sell foreclosed homes like anyother house. Ive done quite a bit of foreclosure financing in my days. The cash deals are always the way to go.. but just because you dont have $120,000 sitting in the bank doesnt mean you still cant play the game.

one of my agents does nothing but foreclosed sales.. and I get all those loans. The only time it is an issue is when the subject property has alot of deferred maintenance.. because the bank wont loan money on a fucked up home.. Th other catch is Since the bank is selling it themselves, they will not provide a termite letter or treat any active infestations. And as you know this is a requirement of all lenders. So if your house has a termite problem, you may have to pay to treat it before you even own the house.. But other than that.. its just like anyother transaction.