You need to have some reserves for repairs vacancies etc.If you are not able to obtain long term financing from the owner I would be fearful that in 6 months you may be unable to get your new loan. also, consider that if you go to get a new loan you will have closing costs that will require cash unless the owner is willing to pay your closing costs as well.You need to get concrete numbers and start putting them together in plan. sounds like you are in the beginning stages of planning. please make sure you have a solid plan with realistic numbers that work before committing to this property.I hope this helps.

@Joe C.Bill is right, there are 3 main types of licensing: collections license, mortgage origination license/mortgage broker license, and a servicing license.Also just wanted to add that licensing requirements are very state specific.One of the best affordable resources I've come across to learn about the requirements is ACAInternational.orgIf you get to the stage of needing a good securities attorney recommendation, feel free to message me.Best,Dave

The deal is not done and still in the very infant stages, but he liked the numbers and the fact that I did some 'homework' on the property so I'm hoping this turns out to be my first investment.Anyway, it would be a great idea for you to get involved with some of your local investor groups if you haven't already, and begin networking and finding out who buys what types of properties and in what areas.I know this didn't exactly address your "how to pitch" question, but I hope that my story would give you some ideas.

Once you get past a certain stage, it becomes much tougher to listen while others tell you what to do - but that's an important part of the process.

I understand the importance of getting to my local REIA club and reading as much material as I can, but for a some who is at a stage where I am heading toward a four year degree in both Finance and Accounting what would any suggest I (or anyone who has recently read Rich Dad Poor Dad :)) consider doing so that I am fully equipped for REI once I leave college.Some Background: I currently live in New Orleans.

Utterly overgrown and trashed.

I usually hand my property to professionals.Any advise would be helpful.Do I wait til I staged it?

Hi Sam,In the business we call these in "pre-list" stage as a broker/agent.Banks will either list REO directly with listing brokers or have asset management companies they contract out with that the bank gives their assets to for disposing and selling in the marketplace.They give the asset company full reign usually going by what is in the banks servicing agreement as part of the contract to handle the disposition of the assets.

In foreign countries in growth stage (i.e., Asia), real estate investments can grow in 20-100% in year to year valuations.

I think it would do us all good to remember that as important as is our own bottom line, there are many things in life that need to share that stage!