Many of the people who posted to pay off properties as soon as possible hold numerous properties so they were obviously not afraid to invest.

(NOT War zones) Go to you local reia club and ask other investors (rehabbers) what areas they like to work in and what type of properties they are looking to buy (Beds/Baths) I was just up in Raleigh last month at the reia club.

I work 3-5 contracts a month with numerous changes and versions of the same contract.

The town I'm in has a lot of older (maybe 1900-1920s) homes in desirable areas and also a lot of homes built from 1949 on.It's an area that I'm interested in, but I've read one book by Robert Irwin and skimmed through another at Barnes and Noble and he mentions in numerous places not to buy houses over 10 years old, but especially not older than 25 years old.

Any way, when you say East side of Cleveland I picture war zone.

Hi Christian,I work with a very large REO broker that handles properties in the Atlanta area for numerous major lenders and I can tell you that not all listings are on the MLS.

He is a pretty good whole seller about 3 to 4 deals monthly with 5 years experiencebut, i don't know if its the correct thing to use because when i run my numbers his MAOs are always much lower then my MAOs. now he also stated that the area matters the type of area matters the standard nice house in a nice neighborhood your formula would be ARV X 70%- repairs= MAO - Profit margin= cash offernice house in bad area ARV x 65%- repairs = MAONice house in WAR Zone ARV x 60%- repairs=MAO what do u thing about these?

$850/month less 40% for expenses (read numerous threads in landlording forum on this topic) leaves NOI of $510.

Lots of people made out like bandits during the bubble buying properties that were badly cash flow negative.OTOH, you don't have to look very hard to find numerous cases where tenants are being kicked out of their rentals despite paying the rent on time every month because the owner is being foreclosed.

Consult a lawyer or one of the numerous books on running an LLC to get the correct wording.