Raw and rookie mistake thinking thatïŠ Thanks on the rental rate assumption and for emphasizing to always err on the conservative side, especially when starting out.

Mortgage assignments are generally better if you want to err on the side of conservatism, which you may want to do for your first deal.

I always try to err on the side of caution.

For the most part, FHA appraisers these days have the authority to use REO sales if they find that constitutes the majority of recent comps.That said, I've met plenty of FHA (and non-FHA) appraisers who abhor using REOs as comps for retails sales, especially for rehabbed properties.So, unless you have some discretion over the choice of your specific appraiser, I would err on the side of conservative, and use some REO comps to determine your ARV.I've had a few properties that I've had to turn down purchasing because -- even though I knew the property would be a steal at my resale price -- I knew there would be issues with the appraisal because all the comps were REOs.Better safe than sorry...

Hiring an attorney is a waste of money because he/she is simply going to err on the side of caution and tell you to not sign.

I think it is pretty apparent that BPOs get spooked because stuff is "against the law" and err on the extreme conservative side...which kills deals.

If a big item will sink you then you need to keep the reserves and err on the side of caution.

Sometimes we may err on the side of war, but I would argue that is to show some strength and make people think twice about messing with us.There certainly is a lot of waste in the war machine, but this stuff is expensive!

I read a thread this morning on cheapest market. It made me wonder if that really mattered? Is it that important? Is it the most important thing in buying properties?
Each investor can answer that last question fo...

In general, my guess is that the onus is on you to ensure that the bill is paid, regardless of whether you receive notification; but if you are officially told that you're paid in full, it seems a little shady that you're later told that wasn't the case.Of course, if it went in front of a judge, you'd like have to prove that the information they gave you was erroneous and that it led to the fees you later incurred.