Hey, its David here. Karen and Steven are definitely taking action. They may not have put together a deal yet, but if you get out there and make enough offers and keep taking action something good will happen. I have found many times that doing the right things, getting out to see people, that sometimes what i planned for doesnt happen but instead i get something even better.
Today i went and looked at a couple of houses. The first house is in a subdivision in Memphis called the Graceland subdivision for the famous home of Elvis Presley that sits on the edge of the neighborhood. In this neighborhood a nicely done 3 bed 2 bath home can sell for $110,000. Well the seller is about 2 months behind on their payments and owes around $83,000. So we are going to do a short sale and make a short payoff offer to their bank. I think for $15,000 we can update the house a bit, finish off a 2nd bathroom(it has a bath and a half now) and make some money if we are able to buy this house on the short sale for about $60,000. What we find is the key to a successful short sale is whether or not we are able to meet the BPO(broker price opinion) agent when they go to inspect the house or not. Anyways i like being able to help people out and most of the time with the right sellers you can tell they really appreciate you trying to keep them from having their credit trashed by a foreclosure.

Just for fun. i have a house under contract to buy for $85,500 at 1292 Peach st in Memphis, TN 38104. you can pull comps on this house on www.zillow.com
i have had a property inspection done on the house that you can view here:
1292 Peach Inspection

The home was built in 1910 and has stone exterior walls up half way and then stucco the rest of the way to the top. I am planning on repainting the outside a grey blue color with white trim.

i would love to hear your comments about the above deal and if it is something you would have liked to have bought. I am willing to wholesale it for $98k to a reader if they buy it before i do any work to it.