So earlier this week I had a deal fall through because I was not quick enough to come up with a contract offer but I still decided to consider an evaluation for the unit.Background- I was walking my neighborhood to try and burn some calories from my taco dinner when suddenly, a For Sale By Owner sign appeared.

Daniel,Here's another good quote for you:"He that waits upon Fortune, is never sure of a Dinner."

The last thing you want is uncomfortable Thanksgiving dinners.  

In order to save a few pennies to pay for my property taxes, I will be eating ramen noodles for dinner tonight.

In real estate, accepting dinners or goods in exchange for our services is considered illegal.

I tell the agent "from now on the price is NOT $60 as I will now have the hassle of getting ELECTRIC turned on ($115 IIRC), Insurance (always a hassle in TX), the HUGE expense of running an ad in the twice weekly paper ($11.50) and possibly an extra 300 mile round trip.After closing on Thursay the agent and I retire to a nice restaurant for dinner and a drink or 6 and she proceeds to tell me that with just a bit of elbow grease there's at least another $4-5K in the place.

I'd try to get a blanket mortgage on both 'deals' you mentioned, as trying to find financing for the $50k property alone may be tough.I don't think that using a private lender will net you a better interest rate than 7%.Also, while your way is way more delicious, it's conventional financing, not confectionary.

The other night I had dinner with one of my biggest customers (W2 job) and it came up that him and his brother own 45 units.

•Harvey Levin (Harvey property management group) who spent 4 hours with me over dinner and many phone calls there after telling me that "being positive is a good thing but knock it off and look at the actual facts!"

@Christopher Abernathy  property radar app.. got me a deal in lake Oswego OR.. that is a killer.I can now pay for 50 years or more of subscriptions based on that one deal .. and still have money to go to dinner.. that is the coolest app ever and for all sorts of reasons..