Don't forget to factor unexpected repair costs, closing/financing costs when buying, closing costs when selling, PITI (Principal, Interest, Taxes, and Insurance) payments while you are fixing up and selling, and realtor and/or advertizing fees to sell it.And now I'll give you by far the NUMBER 1 newbie mistake in real estate investing. . .. . . buying a property too high and TRYING to sell for even higher.So, Alex, to summarize my input:Experience tops book knowledge.

Let's assume it gets appraised on the low end of 180.So the "sweat equity" is 180k-157k=$23,000 (this number includes the labor and materials paid...does not mean i actually spent 23k)If I tried refinancing after a year, assuming they still give me a 6.5% rate, does it mean the principal on my loan would now be:125,600-23,000 (sweat equity)=$102,600?

steps to follow, rental agreement forms, info on how to figure out what to charge as rent, after they lease for a year or 2, how much do they get a loan for--the original sale price or does any of their rent payment go towards the principal?

This deduction provides a tax shelter that can shield positive cash flow, as well as the equity buildup occurring through principal reduction on the loan, from taxation.

Interest rate of: 6.375%With Points at: 0.442APR: 7.027%Lock period 30 daysEscrow: yesYour estimated monthly payment for principal & interest payment is: $623.87closing costs = 2824.50pre pay interest = 523.97

:roll: )I'd pay off the residence with extra principal payments on top of mortgage payments, while making regular mortgage payments on both rentals.

TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B Reston, VA 20191 In execution of a Deed of Trust in the original principal amount of $212,100.00, with an annual interest rate of 12.1500% from BRIAN DAVID BROWN dated August 26, 2005, recorded among the land records of the Circuit Court for the COUNTY OF FAIRFAX as Deed Book/Instrument # 17705 AT PAGE 2027, the undersigned appointed Substitute Trustee will offer for sale at public auction in the COUNTY OF FAIRFAX, on the courthouse steps at the front of the Circuit Court building for the County of Fairfax located at 4110 Chain Bridge Road, Fairfax, Virginia on January 30, 2007 at 11:30 AM, the property with improvements to wit: APARTMENT NUMBERED 2061-12B, TYPE B-R, SOUTHGATE CONDOMINIUM, AS DESCRIBED IN THAT CERTAIN MASTER DEED ESTABLISHING A HORIZONTAL PROPERTY REGIME WITH ATTACHED PLATS DESIGNATING THE RELATIVE LOCATION AND IDENTIFICATION OF EACH APARTMENT RECORDED IN DEED BOOK 3912 AT PAGE 254, AMONG THE LAND RECORDS OF FAIRFAX COUNTY, VIRGINIA, AND ANY AMENDMENTS THERETO HEREAFTER RECORDED, AS PERMITTED BY PARAGRAPH F.9 OF THE SAID MASTER DEED. and described in the above Deed of Trust.

Funding Program Requirements: - Complete the Funding Application - Submit 1 to 3 page project summary or business proposal or Executive Summary** - An original bank “capability†letter or current bank statement, which states borrowers financial ability to place the minimum $100k or 10% (whichever is greater) of the loan amount into an escrow deposit - Last two (2) bank statements (When application is preapproved) - A company business plan (if necessary) and Insurance (if necessary) - Last two (2) years of income taxes (if applicable) - Borrower’s legal documents (Filing receipt, tax ID, etc) - Two (2) color picture ID for principal.

It's better to just have the cash to put down for many reasons, a few being; you'll show you are serious about your investment and intent, and you'll SAVE MONEY on your payment/principal amount!

But they all use the same principals of "The Law of Attraction" as their underlying message.You can use "The Law of Attraction" to attract more than just money, but money can be a great marketing tool :).Really what they help you do is become successful, and successful can be whatever you define it to be.