Well I went to an auction yesterday. It was interesting in so much as there are a lot of people out there with a lot of money. Every property that looked half way decent was over bid instantly. Everyone seems to have long term goals as it will be hard to get any profit off of a rehab bid as high as they were going for. Today I went to see a property in Springfield. I put is a verbal offer which has to be approved by the bank first. Once it is cleared we can write it up. I am very actious bout it. It seems that every time I find a building I am interested in at what I beleive to be a fair price. I get out priced or I just miss the boat. My offer is lower than asking but I beleive it is fair. Now the questionm is will it be accepted and if not how much higher should I go? Since the offer is verbal and the other agent will not give the offer until tomorrow morning I still might offer a little bit more. Just to seal the deal.

I am now trying my hardest to learn all I can about social media and its relationship with real estate. there is so much to learn and it is constantly changing.

I went to see a property today. when I asked the person who represented the property if there was anything wrong with the property, he gave me the standard we do not know anything about it answer. He said that he had several properties that his company was involved with and they were working on four other properties at the moment and that is why this one was up for sale. When i went out to see it i noticed that there was a crack in the outer brick wall that went from the window to the foundation. When I asked one of the investors I work with if he was familiar with such a phanaminon he asked if there were any big trees near the building. Which infact ther ewere several. He explained to me that what i was seeing was the result of the roots of the trees growing and cracking the foundation. The only way to repair this is to tear down the brick wall, dig up the foundation, dig up and remove the tree's roots and then rebuild.

The sickest part if the whole thing is that, they are even attempting to over charge for it. It is my beleif that people who rehab 50 properties a year, as they toled me that they did would know this. It is my beleif that they are hiding behind a line used by the banks that they " Seller acquired property through foreclosure and has no knowledge of defects affecting value or use."

It makes sense when an out of town bank uses that line, but when local investors use it, I find it a little hard to believe. They are just waiting for someone who does not recognize that problem to unload the property on.

Of course I have no way of proving this, it just adds up. So many dishonest people out there. you really have to be on your toes.

Yesterday I went out and looked at some properties in the Riverside area. I like Riverside because if it's youthful charm. I see a lot of young people living out there and the neighborhoods are very cute.

Finding a great deal of craftsman styles homes mixed with several other architectural designs, the charm really shines when the properties are taken care of. Most of the neighborhoods closer to the water are in good repair, and finding a property to flip would be challenging.

I still think the opportunity is out there, just that they do not last for long and you really have to have your finger on the pulse to get one of them. Now I just have to figure out how to get my finger on the pulse of this neighborhood.

I will probably find my self riding through there often and of course I will see what kind of activity is on the MLS. The auction sites might have some info as well. Now its learning by the roads and on the computer.

The interesting challenge for the investor is trying to figure out what people are going to be interested in buying or renting in the coming years or months. Being able to either move the property or get it rented. Many people are choosing to stay on the side lines while some are jumping in head first.

Many investors are back in the market looking at the REO's again. It would make sense to buy a fixer upper now and have it ready for a June July sale.

I just got a call from the realtor representing the property I am buying. They are diligently working away at the bank to OK the short sale offer I made and it looks like it is going to go through. Nothing definite yet but it looks good so far. My only concern is that this property has a septic problem that the previous owner threw in the towel on. Now it my be that the spread of the price I am paying compared to what he had already put in it is great enough to make the price of the septic worth it. but I really will not be able to know for certain until we start working on it. It also needs a new roof and I am sure a few other things that I can not yet see. but hey, that is the adventure, and I am ready to begin.