I nearly drown and am still extracting the proverbial water from financial statements.

If you refinanced to extract equity for future investment, your payment would go up because:- You have increased the LTV ratio; decreased the buffer of equity---rates will be higher.- You will most likely have to pay MI (or a higher payment if the lender pays it for you)- Your blended rate will be higher then your previous interest rate (if you have to go with a combo loan).Regards,Scott Miller

From there I would casually in a conversational tone start to extract the information I need to find him property that he likes, wants, and would be willing to buy from me.

All which places you in the best position to extract a portion of the revenue.

for example:Property Value: $100kSeller Mortgage: $100Kyou obtain the property on a subject2, you then turn around and sell with a wrap with the following:Sale Price: $110K (premium due to owner financing)Down Payment: $20KYou then carry a note for $90K that the buyer must pay offYou then apply $10k of the down payment to the wrapped lender, bringing the wrapped mortgage balance down to $90K, the same amount as the note you are carrying.In addtion to all that, the terms on the new note are created to give you a spread between the wrapped PITI & the buyers PITI (assuming that taxes & insurance are escrowed in).So, after the closing you have created (and extracted) $10K (minus any closing costs) in equity from the deal, and you also are now receiving monthly cash flow via your note and you have no property upkeep.DISCLAIMER: I have never done one of these, this is all academic.

So they don't really compete with each other, but rather work in a format of trying to extract every possible cent from the collective email lists of everyone in this sordid little fraternity.

The typical scenario is they will pay the costs to file the motions to collect with bank levy or wage garnishment etc. and then start to try and extract money.

My rationale - since I purchased this property at a much lower price, the real cost to me equals to what I can extract out of it by selling.)

NOte - keep things that you find interesting - that is what a business is partly about.In summary, sharpen your job to cut your hours or boring tasks to extract maximum salary and benefits and enjoyment.

No C- or D areas.Considering the rule-of-thumb of subtracting 50% of the gross rent tocover expenses, and considering that I need at least 10% NOI, I am looking for properties with 20% gross rental income.I would buy cash, and see later if i can get the Fanny Mae delayed financing to extract cash back out of the property to be able to buy more properties.Any suggestions?