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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Why REO's?? Posted by Ward-CA- on June 05, 2002 at 10:29 PM In Reply to: Anyone Successful In Purchasing REOs with Cash Partner posted by Sharon on June 05, 2002 at 2:44 PM : I would like to pursue REOs in my area, but I am broke and have a fico score of 640. I wanted to know if anyone has been successful buying REOs with a cash partner, and what advise can you give me to find a partner to put up the cash while I wheel and deal? How would I check out cash partner to make sure they have the cash to perform? Can I advertise in my newspaper for someone with cash? Please give me an example of an ad to use if you have been successful with this technique as well. Also where can I obtain a contract to use with a cash partner ONLY on a couple of deals and have my attorney review it? ========= Sharon, Why REO's? They usually aren't the most profitable properties you can buy in the foreclosure arena. And if you're just starting out you'd have greater success cherry picking amongst the deals undergoing sale at the foreclosure auction itself where you don't need the degree and depth of contacts that successful REO wheeling and dealing requires. As far as getting some background in the field of partnering and raising money I'd recommend visiting Nolo Press' website at www.nolo.com. Good luck. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I would like to pursue REOs in my area, but I am broke and have a fico score of 640. I wanted to know if anyone has been successful buying REOs with a cash partner, and what advise can you give me to find a partner to put up the cash while I wheel and deal? How would I check out cash partner to make sure they have the cash to perform? Can I advertise in my newspaper for someone with cash? Please give me an example of an ad to use if you have been successful with this technique as well. Also where can I obtain a contract to use with a cash partner ONLY on a couple of deals and have my attorney review it? : ========= : Sharon, : Why REO's? They usually aren't the most profitable properties you can buy in the foreclosure arena. And if you're just starting out you'd have greater success cherry picking amongst the deals undergoing sale at the foreclosure auction itself where you don't need the degree and depth of contacts that successful REO wheeling and dealing requires. : As far as getting some background in the field of partnering and raising money I'd recommend visiting Nolo Press' website at www.nolo.com. : Good luck. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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