Moral of this story is to make sure you have proper and adequate (if not excess) insurance coverage, particularly when you have multiple properties (multiple possibilities of litigation).

To date, we have closed in excess of 30 deals, and have 17 in the pipline as well as another 10-15 SS's we do for realtors.

This of course does not consider you getting other additional (in excess of 4) from local banks who carry their own paper and thus do not have the same guidelines.

Someone would bid well in excess of the $1 million owed.

You missed a BUNCH of the expenses, such as damage done by tenants in excess of the security deposit, advertising, entity maintenance, legal fees, evictions, lawsuits, office supplies, etc, etc, etc.Throughout the United States, operating expenses run 45% to 50% of the gross rents.

All it does is insure the amount in excess of 80%.The couple complaining to countrywide are about to have a foreclosure on their record if you can not refi out the property as the loan is in their name.

There's some leg work to be had, but its cut-and-dry, not speculative.

And I mean telling everyone, your friends, neighbors, your dr's, dentists, dry cleaners... everyone!

Available credit is definately dried up these days, so we must get even more creative with our methods and strategies.

I'm embarrassed when asked about what I do...which is job searching at the moment.I worked in commericial RE as an acquisitions analyst and when acquisitions dried up they made cuts.