One said not interested to sell (he is placed on the drip campaign list to be mailed once every 3 months), the other advised they've been using the property as a storage but now are looking to retire (you gotta be really rich to even think about retiring to today's economy :roll: ), so he promised to get back to me with their desicion.

The "stimilus" package has nothing to due with stimulating the economy itself but is really the governments best guess of how they can prevent having to spend this money later.If they were to let things be more companies would have folded (or at least called it quits) and the government unemployment rolls would have exploded so drastically that they would have easily have doubled the monies they gave away in unemployment claims, food stampt, and all those other programs.This is what I believe is the real drive behind this and the government is going to get a little upset that their ploy did not work and take it out on those of us that have found a way to make money.

Jerry,This property may be difficult to cash flow given the numbers you provided.Also, investing using your IRA (once it is rolled over into a SDI-self directed ira) is an option, but if you do not have enough to pay for it all cash, your only option is a non-recourse loan which would require a minimum of 30% down + closing costs + resereves.

I am not familiar with pension plans so my first question is can an IRA (or any other qualified plan) be rolled into a pension that you administer?

according to my citys online assement rolls system its FMV is 35,500 -i check it with homes in that area and their recent sales and it seems accurate

As long as the checks roll in and my managers are not calling me with issues, life is good!!!!

What's great is when you get someone good on government assistance where the checks roll in regularly.However, you may be limited in your exit strategies to selling to other investors who will want a steep discount, or selling as a lease-option, which has its own pitfalls.I view it as investing in high-return CDs -- if I can sell it for what I put in it then I'm happy with my rate of return for the holding period.

:roll: :roll:

:roll:

Will they provide a rent roll for the past year?