Literally just left the house.

So if it takes about 3-4 months to foreclose on someone, I would expect to see the market to be flush with foreclosures starting 2nd quarter 09 and the housing market bottoming out starting in 3rd quarter 09 since their should be less foreclosures coming on line to depress the market with.Therefore, my objective between now and then is to accumulate properties now for cash flow and position myself to be able to accumulate more property in late 09.

I paid $20K for it and an almost identical house literally across the street recently sold for $52K.

I literally started as a college student doing janitorial work and got into real estate by accident.

A nearly identical house literally across the street sold recently for $52,000.

$250K is not only the gross (we killed a gross receipts tax attempt here in IL), but even as net it could be equal to zero or less than zero.After struggling for five, ten, or even fifteen years in business-- perhaps the first several years losing money, and taking on debt and enormous risks, it's not uncommon for a business owner to eek out a $30K, $40K, or $60K a year living for years before one year magically getting a single contract that propels them into Obama's mystical $250K bracket.The average for a decade or two may still come out to a mere $30K - $40K but all of the sudden after years of sacrifice, delayed gratification, and self-deprivation a person would quite literally be penalized by the Obama class warfare.The reason is simple- Obama hasn't even held a legitimate job, let alone run a business.

In an environment where there are literally hundreds of thousands of good deals, why waste time on a property that is upside down?

Our community is flush with wonderful people who will give of their time to help you out, with nothing expected in return.If you're looking for motivation, read, read, read!

Literally hundreds of distressed properties are advertised for sale.

would you believe that in canada gas prices are around 2.50 per liter.... about 2 liters to the gallon so around 4 bucks per gallon.