We were doing our inspection on this Fannie Mae property we locked up for $ 44,300. We found a few things that needed repairs or replacing totalling about $ 1000. We knew that the house needs the roof replaced & figured it would run about $ 5000. To our surprise our 1st estimate was $ 7,500.
We contacted the agent & told him to go back to the bank with the repair cost, explaining that anyone buying the house would have to replace the roof in order to obtain homeowners insurance. The agent told us the next cash bid on the property was only $ 500.00 less than ours; we still wanted him to go in with the roof proposal. Fannie Mae agreed to drop the price of the house an additional $ 3000.00 for the roof problem.

On October 13th, RealtyTrac, a major online marketplace for foreclosures, released its third quarter 2011 report of foreclosure filings and data. It’s an extensive report, but we can highlight it here for you:

- Data on – foreclosure filings, default notices, scheduled auctions and bank repossessions.

- Properties – 610,337 properties in the report for the third quarter.

- This is a decrease of 1% from the previous quarter and 34% from the third quarter of 2010.

- One in every 213 American housing units had a foreclosure filing in the quarter.

-September marked the 12th straight month where foreclosure activity decreased on a year-over-year basis.

I just closed my very first deal today (Tue) for $5,706.70 net profit!!! It took me 2.5 months, since I bought RBBP on August 1st. And I had a few last-minute surprises but everything worked out in the end. Man, this stuff works! Only if you work though

Just to let you know what happened, my realtor listed this 2-br/2-ba townhouse in a nice neighborhood for $89,900. The ARV is about $125k, so I made an offer for $66,300 with EM of $500 and got it accepted and approved by the bank (it's a short sale). While pending the approval, we stumbled upon a cash buyer who's a contractor, who was also very interested in this property. So I decided to flip it to him through double closing. We had some back and forth and we ended up with $77,500!

Just noticed his current (October) 30 Days to Real Estate Cash offer at the top of the page.

Just wanted to give Kudos to Dean for a generous donation to a great cause.

If your community is like mine there are vacant properties on every street. Some have for sale signs posted in the yard, some are abandoned but did you know many may be shadow Inventory?

I know there are many on this forum that are struggling with putting all of Dean's principles and techniques into action. Many may feel overwhelmed or maybe do not have anyone in their personal life to support and encourage them thus leading to discouragement and negative thinking.

When I first started in REI I read a great book called "The Power of Positive Thinking" by Norman Vincent Peale and I would like to share one of his techniques that has enabled me to press forward and do over 100 wholesale deals and counting!

Believe in yourself!
Self-confidence leads to self-realization and successful achievement An effective method for making your subconscious positive in character is to eliminate certain expressions of thought and speech which we may call "little negatives"