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To: CapitalistHogg™ who wrote (950)	7/9/2007 7:59:10 AM
From: Pogeu Mahone	Respond to of 1718

Sorry try forclosure if you want to p-ick up bargains. You are in this to make money not someone else happy. This is the dumbest idea i have heard in a long while ========================== it was my idea to try and find homeowners who are perhaps in financial straits, but who have not yet gone into foreclosure and arrange a mutually beneficial agreement between us. i've heard that trying to purchase property that has already been foreclosed was a real pain in the arse and that getting property before foreclosure was the way to go.

To: CapitalistHogg™ who wrote (950)	7/9/2007 11:03:50 AM
From: SouthFloridaGuy	Read Replies (2) \| Respond to of 1718

I've heard the same, please ignore comments by the ignorant poster who responded to you. Good post.

To: CapitalistHogg™ who wrote (950)	7/10/2007 12:44:27 PM
From: Dave54	Read Replies (2) \| Respond to of 1718

If I may chime in here. I was a real estate agent in Shreveport Louisiana during the oil bust during the mid '80's and the resultant real estate crash. Once a bank repo's a property they have clear title and there is nothing unusual at closing time, ran smooth as any closing. As inventory builds in the area you're interested in, the prices will drop much further than what you will be able to negotiate with a troubled homeowner. He's trying to bail with no loss, the bank on the other hand as their BOP's(bank owned property) on the books increase will come under pressure to liquidate that inventory and they will! I was listing BOP's that were in 100K-90K neighborhoods, as inventory built up to peak, I was selling those repo's in the 70K range. If you were a well qualified buyer that could close quick (no contingencies), the deal would be struck. As this real estate crash gets to peak is when to pounce, in the mean time due your DD on the areas and keep a watchful eye for sale signs and the eventual empty houses. A quick trip to the clerk of courts office will tell you who the mortgage holder is. In the initial stage of the bust the banks will try their hand at selling these properties with out the aid of realtors, the sign of peak is when they list them with realtors. If you wait, you will get a deal that will be better by 15 to 20 %, than if you help out a distressed homeowner, you must bear in mind these guys probably don't have any cash or other liquid assets to sell under what is owed. Another note is as these guys go down they become depressed and that is also reflected in how they care for their homes as they are going down the tubes, which is also another bargaining tool with the bank, the repairs needed, negotiate bucks off don't ask the bank to do the work. Your very best deal will be if you offer all cash and zero delay for a closing. Hope this helps and good luck. Dave.