We're here to help you get the ball moving, so please don't hesitate to jump in and ask any questions you've got.See you around the site.

Be as precise as you can and understand that there will be things you never ever thought would go wrong or could possibly account for.

I'll just put the ball in your court here and tell you what I tell ANYONE I've ever worked with/mentored/friend-ed regarding the business. 1.

How the heck is someone supposed to execute a plan if they are always behind the 8-ball trying to pay everybody and their brother all the money they owe them??!!!

My goal is to keep rehab costs under 8K ball park - if it needs more then that I dont want to bother.With limited rehab knowledge - what is the best way to go about inspecting these properties.

Originally posted by Sam Leon:I kept hearing people saying when in a REO situation, if the bank came back with a "HIGHEST AND BEST OFFER IN 24 HOURS",I have read this to mean that they did not receive offers high enough to meet their "minimum acceptable bid" and they are asking the ones who submitted bids to re-offer with their highest bid based on the assumption that their first offer was low balled.

Since you were talking about building new properties, I put the expenses at 45% instead of following the 50% rule precisely.

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A more precise way of explaining what I'm saying is that you should always invest cash in whatever investment you can find that yields the highest returns.Paying cash towards your mortgage is financially identical to investing in a zero-risk investment that has an annualized ROI equal to your mortgage rate.

I have not given this much thought really as to how to, I did this for years and I have a completely different approach to underwriting seller financed as you need a crystal ball more than underwriting guidelines to meet at the time of a contract.