All Forum Posts by: Chris T.

Thanks Charles!

Wow, ok!

Here's a good article to check out, you have to join though (free).
http://www.uslandco.com/memberarticles/garydees/article113.aspx

You lost me there!

I'm going to start with wholesale deals.

What is the best place you have ever been on vacation or traveled to?

I think it's ilha grande
It's in Rio De Janeiro(State), Angra, Brazil
You can only get there by helicoptor or boat.
There are no motor vehicles allowed on the island.
There is actually a smaller island for sale, considered to be part of it, that has a helicopter pad and Resort facilities.
I think we should all pitch in and buy it!
http://www.luxuryrealestate.com/744692

Thanks for your patience and feedback John.

And that formula is ok to use for wholesaling properties, right?

That would allow for, worst case scenario, having to close on it, rehab it, and sell it with an agent.

Fannie Mae got in trouble because the government decided to "strongly persuade" lenders to extend loans to people with no money down, bad credit and job history. So, Fannie Mae did just that and the govt. guaranteed the loans. When loans began to default at record highs the government was "obligated" to bail them out. How is multiplying the same priciples that got us into this mess (times ten) going to help the economy?

What % of each mortgage should you hold in reserves?

yeah, about $15,000 upwards.