My question is: What are my options for buying a second property after I have fully leveraged my primary residence?

Second, how does one determine the price to charge for the option?

Scott,I can second the lower taxes in Philly.

After 3 months had it revalue at 15% more price than we originally purchased and got second mortgage to borrow money from property.

Using internet sites (I had ONE response from Craigslist for my second house) bandit signs, fliers to the local area, etc have been more successful.Using this method, people do not “lower†their offer, they drop out of the bidding.His book, even his website, gives info on how to do this.

Secondly, invariably the RE depreciation has been very bad and #1 in foreclosures in the recent news is CA.

Is it like having a second motrgage?

My father and I sold 2 properties on notes back a few years.

With $98K (or less) on the table, the first isn't going to want to see the second get anything.

Option 1: Buy a 3-4 unit building, live in 1 unit, rent the other 2 or 3.This option would mean investing with my father who is also interested in investing.