Out of 5 contractors , with the most classic excuses for the delayed bid for 3 weeks or just not answering their phones and returning emails, which has been disappointed and frustrating.

Earlier this year we bought two houses that needed major work. We purchased them with a Fannie Mae Homestyle loan, which is similar to an FHA 203k. I got a bit carried away on the rehab, going beyond the bank loan amo...

For full out renovations I use name brand valve sets with replacable valve stems, enameled cast iron tubs from HD, and white subway tile with detail accents for a classic looking reasonably priced tile job.

If not, then I'll do some crosswords or read an ebook.I also listen to some REI podcasts when I run.

First I only go see houses that are three or four bedroom and they are in good school districts and the quiet streets that's the first thingNext thing I do is I walk through the rental and act like a renter asking the basic renters questions to landlordsAnd then I do a classic what if statement and give a leave behind on lease to ownMr. landlord you got a nice place here and I think the rent you're asking 1100 is fair"I want to ask you a question and if you hate the idea of them just let me know, but what if I could give you 1100 a month for about oh 24 months and then at the end of that period of time buy the property at a fair price, ""would that be something you would even consider thinking about or maybe not?"

@Keith Belzner There's nothing wrong with your calculations, the offer you're thinking over could work.The problem is that you're making a classic newbie mistake of trying to craft an offer based on what you think the seller might need instead of what he actually needs (or believes he needs).

Here is another book you might enjoy that I wrote for the Holidays"The Lease Purchase Christmas" https://www.dropbox.com/s/3geekhxraagabk5/%235%20T...A dickens classic with a Real Estate Twist:-)Enjoy.  

This is a classic case of walking over dollars to save pennies.

@Don Harris  this case you posted is a classic  SUB TOO equity skimming case.and why I always say SUB TOO for the seller is extremely dangerous and for beginners with little money and they do this it can get them in hot water like this guy as well.start defaulting on a bunch of SUB toos and you WILL have a problem.. some do it intentially IE get into contract rent house skim rents never pay on first.. knowing they are not on mortgage until bank forecloses them out.

I would also be extra diligent in screening because you are at risk of taking anyone to fill a vacancy, which is a classic mistake.