I got the point on the flying analogy.......It makes sense....BUTAnytime someone says but it means they don't agree......in this case I agree but have something to add.............BUTIf you do not know how to fly you can still get in an airplane and go from point A to BYou just need an experienced PilotIf you do not know Find Someone who does........Find a way to enlist their knowledgePay them if it neccessaryBut get the knowledge.Most people could learn to fly in a single hour of instruction.Landing may take only 10 hours the min requirement to solo40 hours min to be certified.Cost 5 to 7 K $Of course your learning to fly shouldn't end there....Flying is easyTaking off a bit harderLanding the hardestInvesting First DealDifficult to get off the ground easy once you have a property to hold or rehab....like flyingLanding.....the most difficult ....getting out of the deal with a profit.In Investing As In FlyingYou should plan your trip before you leave the ground.Inspect the vehicle to be sure nothing is wrong with it.File your flight plan (business plan)Be sure you have enough fuel (funds) to reach your destination with some reserves.Be ready to abort your landing if it dosen't look right....

And of course you should never part ways with a new acquaintance without exchanging one (or more) of yours for one of theirs.Referral business is the reason for all forms of networking as well as the fuel that drives it.

All you have to do to get my vote is come up with a good plan to fix the economy and drive fuel prices back down again and you've got my vote!!!

That includes taxes, insurance, vacancies, advertising, utilities paid by the owner, management, maintenance, entity maintenance, legal fees, evictions, damage done by the tenants in excess of the security deposit, capital expenses, lawsuits, etc, etc, etc.

Property Cost $200,000.00 Repairs Needed $50,000.00 Number Of Units 10 AVG Rent Per Unit $475.00 Gross Schedule Income $4,750.00 Vacancy Allowance 10% $475.00 Gross Operating Income $4,275.00 Less Operating Expenses Accounting $25.00 0.58% Advertising 0.00% Insurance $125.00 2.92% Lawn / Snow $- 0.00% Repairs $85.50 2.00% **Since i guess high for repairs, i lowered this down to 2% Monthly Taxes $458.33 10.72% *** Renter pays Utilities Electric $- 0.00% Gas $- 0.00% Fuel Oil $- 0.00% Water / waste $- 0.00% Total Operating Expense $693.83 16.23% Net Operating Income $- 0.00% Property Cost With Repairs $250,000.00 25% Down $62,500.00 Additional Cash Down $- Remaining Balance $187,500.00 Gross Operating Income $4,275.00 Monthly Mortgage $1,875.00 Total Operating Expense $693.83 Monthly Profit $1,706.17 36% profit My formula always shoots higher on the cost to protect me.

While this is considered by most to be a good return it is very easy to earn in excess of 100% annually.Read the article and if you have any questions look my number up on my profile and give me a call.BriceInvestor/Agent

They were free to run amuck, and would be bailed out if their excesses when badly.

., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.The FDIC said the takeover of the failed banks was the least costly resolution and all depositors -- including those with funds in excess of FDIC insurance limits -- will switch to Mutual of Omaha with "the full amount of their deposits."

According to answers so far this seems to be falling in the "bad debt" category.We accept debt in our culture to the point of excess and most is really bad debt, but if you have a car loan, that's a depreciating asset.

You do not need an LLC or land trsut to do so, but it does help conceal the sale and thus the due on sales clause.Their is no additional risk to the seller (and much much less than a sub to) and no risk to you (at least not in excess from the mortgage an risks involve in any investment)