These properties are being proposed as an RTC style public/private partnership, thus discounts upfront will be absorbed, profitably, by the Govt in future years as the inventory clears and we begin to experience Capital appreciation.Those of you that believe you can out class large investors may be in for a surprise.

I called the owner and he wanted 155.000€ (no way), I made a quick math in my head and offered him 47.000€ and he accepted (I thought we was going to insult me or something).According to my numbers, the ROI is 10% putting 47.000€ down (no loans, Warren Buffet style).

Holding 20 years you'll probably get a new roof, appliances and how many paint jobs.....The neighborhood will be 20 years older,that 100k ranch style could be nearing 40/50 years old.

You need to find a good environmental consultant in your area to inspect that 1955 building for asbestos and lead-based paint.

That way I'm able to enjoy my living style, obtain interest deduction, and still feel safe in the knowledge that I have a free and clear home to move into if I ever need to.JSCOTT-I'm sure there are many people doing this currently, if they are smart.

hi arthur,I have before pictures, but the pee stains are very hard to detect. i do not have to replace the carpet and they ran the wet style vacuum on the carpet on numerous occasions. the discolorations though are still there. i charged them to repair a dark spot (left a bag of potatoes for a long time), but not for the pee stains.just wanted to see what everyone else does when tenants move out and the carpet has stains.

Surely, you won't let me be the only styling on you at the BP summit would you?

How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

Doesn't seem to address the architectural style at all.

Buying a property that has environmental issues.5.