But if that's the case, then they need to find their own deals....which i can respect...but that really shouldn't be their job.

With respect to "Free and Clear" Properties in Texas, California, Virginia and Hawaii: I am pretty sure.

I know that many of you have done alot to be where you are, and I respect what each of you do, and, likewise, I will respect your input and knowledge.

Originally posted by "nationwidepi":There are many other criteria to consider including the fact that different properties, locations, etc. have different operating expenses.I have seen many deals in which the investment did not hit the 50% rule, but was a good deal and others that met the rule and were poor deals.Hi NationwideJus curious to know how the 50%-rule-deal and not-a-50%-rule-deal are bad and good respectively.

I'd tend to agree with your Realtor that the LOIs aren't going to get much respect.

Ray,I will respectfully say that your comment about rolling over in bed while your friend goes to work may not be as accurate as you think.

Sell to an actual end-buyer and take my assignment fee at time of closing.Side Note: If anyone has any comments about this strategy, please let me know, as I'm open for any/all suggestions.Now, here's my question...As a new, aspiring investor here in the Sacramento area, especially within the suburb where I live, and the surrounding neighborhood, there's been an influx of homes that have been foreclosed on, which the banks have bought back and have sent to their respective RE companies for resell.Would these REO's be worth my time going after, in order to hopefully wholesale and if so, what kind of reaction should I expect on submitting low-ball offers?

At that point your in deeper with costs.Find an agent that does business in that neighborhood and is well respected.

`(C) VOLUNTARY PROGRAM- This paragraph may not be construed to require any holder of any existing mortgage to participate in the program under this section generally, or with respect to any particular loan.`(5) TERM OF MORTGAGE- The refinanced eligible mortgage to be insured shall--`(A) bear interest at a single rate that is fixed for the entire term of the mortgage; and`(B) have a maturity of not less than 30 years from the date of the beginning of amortization of such refinanced eligible mortgage.`(6) MAXIMUM LOAN AMOUNT- The principal obligation amount of the eligible mortgage to be insured shall not exceed 132 percent of the dollar amount limitation in effect for 2007 under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) for a property of the applicable size.`(7) PROHIBITION ON SECOND LIENS- A mortgagor may not grant a new second lien on the mortgaged property during the first 5 years of the term of the mortgage insured under this section.`(8) APPRAISALS- Any appraisal conducted in connection with a mortgage insured under this section shall--`(A) be based on the current value of the property;`(B) be conducted in accordance with title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.)

I respect your opinion but I still have to disagree.