The reason I love the REO/Default arena is because you have to really understand the law, the rules of ethics, and good business..

I advised them strongly against this on the principle that the person who determines the scope of work SHOULD NOT be the same person who profits from that scope of work.

, I'd suggest you read this book and check your work ethic and attitude against those who, while seemingly just like you, have already made a couple of million.all cash

Now obviously if you don't have the money to put up then thats one thing, but if you have the money but just refuse to out of principle that's another thing.

I am still considering how ethical these contingencies are.

Some are very good and ethical, and many are not.

Landlording, as we know, is based more on cash flow principles and the appreciation is gravy.History has shown that over a period of ten years, RE has increased in value.

For the most part, I agree with you.However,My philosophy is to get the transaction done and provide great service throughout the process.In your efforts from the statement above, it Can be the case where a deal is done that maybe shouldn't have or maybe an important contingency is missed on the buyer's behalf, etc. etc.I like how you have an ethical approach to your duties.

Without knowing anything about the company; the principles, their background and TRACK RECORD, and about a million other questions that have already occurred to you, I'd pass.Why not just buy into a REIT.

Here is a list of the purchase price & the balance on it:-Purchase price around $36,000.00 @ 6.125%-Principle balance around $34,500.00It's appraised @ $50,000.00One unit just like mine sold a couple of weeks ago for $52,000.00I plan on installing new windows & tile in the bath & kitchen.