When I'd go into a neighborhood I wasn't real familiar with (usually out of town types) I'd drive through and stop and think of some reason to strike up a conversation with some guy washing his car or sitting on some porch.

Wash DC area is far away from the 2% rule (please feel free to disagree with me.

Boy, was he surprised when I came home and told him we had 45 days to move!

So, my initial thought that the RE investing in this manner may hit some walls after it came out in the regulatory wash.

I ended up working 2-3 jobs just to keep my investment solvent until it sold (we did finally make a bit of a profit on sale).What we learned was that personally, I always want to structure the financing to be cash flow positive.

I'd think long and hard about what I emailed, it won't get lost, the dog won't eat it, it won't go through the wash or meet any natural demise, it hangs out there forever.

But the real reason was he called me before 8 am on Saturday morning before my first cup of coffee and gave me 6 excuses why he missed work. 

I'm not sure what bankers Chris is referring to about not being as easy to get a loan thur a LLC but that is Hog wash.

I have a business degree from the University of Southern California and during the day, I run a full service car wash with my sister.I'm looking to start locally in San Bernardino with residential multi-family dwellings.  

Details:-I owe 56k and it's worth 110-115- probably be able to pull out about 35k and buy a house cash for another rental -10 year mortgage with approx 7 years left -Currently rented @945 which is basically a wash w payment taxes insurance etc.- rented out to a fantastic tenant -A- area - best area in bay city MichiganI really think I want to wait the seven years and have a 120k house free and clear renting at 1000 per month and I'll be 36 years old at the time. $35k will allow me to buy a house in the b- c+ neighborhoods.