I didn't know you could paint vinyl- doesn't that kind of defeat the point (low maintenance)?

If you borrow from your 401k, a lender will want to make sure your current income(without the rent from the property you're buying) will be able to handle the new Principal, Interest, Tax and Insurance payments on the new place on top of the 401k loan monthly payment.When you run your numbers on a potential property, factor that 401k loan into your debt expenses so you're not running in the negative every month (defeating the cash flow purpose).

The other part of what I wanted to say was you can defeat these scammers by setting up a Google alert for your vacant property addresses.

Andy N. your words will be self defeating to you.

It is possible that the equity split, as above does not actually earn him more money than that on its own, which would sort of defeat some of what you are trying to do.

Not sure you can get an easy extension, that sort of defeats the point of maturing the loan.

I was really defeated when I found that information out and kinda lost my spark, but I am working on regaining it back, I have been looking at foreclosures and REO properties, I went and looked at two properties yesterday, I know deep in my heart, if the right deal is there, I WILL make it happen.

Unless I had enough money to buy the property outright, but that would defeat the whole purpose of real estate investing.

I urge you to never be "with those cold and timid souls who know neither victory nor defeat."

I felt defeated, until I stumbled onto Bigger Pockets, and as many people say here, why spend thousands of dollars when I can spend significantly less and have a whole community to support me?