texan

What are some examples of favorable options for the home owner when t/b don't exercise their right to purchase?

send me a private message if you know of any rental or L/O properties for sale in the houston area.

Also, do you know of any good books on the subject that one may be able to pick up at amazon or a traditional book store?

At least I think it's called a short sale... There are 2 families I know in the area that are walking away from their homes/mortgages. (I'm not sure yet how much equity are in them, but I'm sure there is some.) I have heard of a technique called a short sale, where before a house enters foreclosure you approach the bank and offer to buy the mortgage at a discounted rate. I assume you would need the owner to deed the house to you before this all took place (???). Does anybody have any experience with this kind of deal? If so, what can I expect? One of these houses looks like a perfect rehab propert and the other would be great for L/O.

I know I'm replying just a bit late to this post, but I thought I'd just put that word out that if anyone is looking for website help please shoot me a message. I've got years of professional experience. One example of my work is here: http://realtorsofhouston.com/. The following isn't a sales pitch -- I just wanted to give you an idea of how much a site may cost. Being as simple as it is I think I only charged around $300 for the site. Hosting for this site is somewhere around $10/month. The areas I excell in are database programming and information management. Please let me know if you need a hand, or if you have any questions I'd be more than willing to help.

Thanks. I got it here. I love reading success stories like yours. They give me hope Especially since that property is in my backyard. ( I live near Spring ) I've heard of Rich but I've never been. It seems that guests are welcome so I've got nothing stopping me. Have you heard of Lifestyles Unlimited? They are also a real estate investment and mentoring group in Houston. I attended their free seminar and I enjoyed it. Their approach is one of buy and rent for the long term, build up equity, and buy up to larger, multi family units (apartments).

I just wanted to introduce myself. Today is my first day here and from what I've seen so far this forum appears to be an extremely helpful and friendly community. I'm currently educating myself on real estate investing. I hope to be a full-time investor some day, but for now I'm learning through books, sites like this and investors that live near me (Houston).