If you are as new as it seems paying someone to do the work and educate you as to what needs to be done may be a very wise investment.

You can likely refinance or otherwise pull out some equity but as others have indicated the cash flow is not very strong.Paying off your primary home is more emotional than wise in terms of investing.

you'll have to go with HML, other investors, WHOLESALING.wholesale to build up a bankroll, then by that time, you might be able to handle a HML for a nice flip.no matter what you do, buy wisely.

the challenge seems to be in finding an escrow/title company that will allow the "double escrow" to be done.....for example: there is an escrow open that is required by the lender once the "approval" from the lender is secured....then there needs to be another escrow opened between the "buyer" and the "end-buyer" on the same property....so, "end buyer" comes into escrow with the $300K plus closing costs, closes existing escrow on the property...then the title/escrow officer walks into the next room and applies the $250K plus closing costs to the original escrow to close that one.in theory and once in the past this was the way it was and still should be...but, now as it seems, most escrow/title companies are not wanting to do the "double" escrow for reasons of "full disclosure" to all parties, for fear of not being "sued" for some type of fraud.those of us not engaging in these tactics get penalized.....but, such is life....i have a title company that has stated they will do a "double" escrow but, will need to let the lender know this fact. not disclose the "amount" the "end-buyer" is paying, merely disclose there is a 'double" escrow in effect....well, obviously this should kill the deal right at the very end....so, not a wise direction to take....

If so, how does the preliminary HUD compare to the good faith estimate. 3% seems like a lot (% wise, it might be nothing in $).

They can always help you make sure that you don't miss anything that you may not have been thinking about tax wise.

The interesting fact was....people still bought and sold homes and needed places to dwell.A good friend once told me where's there's much confusion and uncertainty, there may be an opportunity for much profit.Make wise buying and selling decisions, and there's still diamonds on the ground.As for the rental market, I think this is a good time to own high income producing rentals.

I thought there might have been an easier way than doing the math like I had been doing and that you so wisely suggested.

I recently moved to Portland, OR from Boise, IDI got interested after reading Rich Dad, Poor Dad which really made me think differently about money and how to spend it wisely.

When you originally schedule an appointment to walk through a property for the first time, is it wise to have a contractor meet you there, and give some estimates on the work that needs to be done?