I heard it many times in podcast and was not sure how exactly it works.Great to see so committed members helping each other.

If you aren't, you're committing tax fraud and eventually the IRS will catch up to you.If you are reporting the rental income but not reporting the depreciation expense, then you are paying too much in income taxes today.

We both have full time jobs so doing real estate full time and flipping is out of question for now because it requires undivided attention and that we can not commit att his time.  

With 9 million left with multiple higher quality assets owned and great areas throwing off cash flow with rent growth and cap compression they could be fine and regain that lost 500k in no time.If someone has 2 million net worth and dumping 1 million into this asset class they are really asking for problems.Joel, Its all about your strategy and how committed your are to making it succeed.

1.We have a buyer2.The buyer wants to buy 1,000 barrels/day in existing production3.Purchase price is $30M4.Our bank will lend 67% or $20M5.We have a Mezz funding source who will deposit the balance of the purchase price of $10M directly into our lending bank6.The Mezz wants to get paid off in 12 months with a 30% profit, so he wants $13M in 12 months7.The whole key to this deal is that the Mezz needs a Forward Takeout Commitment from a legitimate bank or life insurance company for the $13MFour questions, please:1)Can you provide a Forward Takeout Commitment for this situation2)I understand from the information that Gordon sent me that this type of letter costs 1 – 2 points and that is fine3)Will your takeout commitment provider charge anything to underwrite this deal and let us know if they are willing to issue a takeout commitment4)We are working on oil production deals in both the continental USA as well as Canada – are both locations acceptable to your takeout commitment providerI am really hopeful that the answer to 3) is no, because if it is, then we will put a solid production deal in front of you.Let me know – many thanksps.We are also developing several SFR /Modular Dev in Austin TX. (2016).

I have been scouring the internet and testing out some marketing strategies looking for my first deal with no luck so far, but I am committed and determined. 

Now I'm making my final preparations to fully commit and make the big plunge.This is the next step in that process.

Believe me when I say I am committed- I signed up with RD education (learning experience in itself and maybe I can share that with you all one day) last month. 

https://www.facebook.com/mitcheldurfee/videos/1015...I committed to purchasing 1 million in real estate assets and now I need some help and guidance! 

You may even know exactly what exercises to do and what foods to eat, but the real challenge is an undying motivation and commitment.