Additionally, I have been the senior portfolio manager of $85 MM AUM for a investment fund which primarily invested in mortgages and real property and in that role was the primary decision maker.

One of my early deal-maker friends always had the philosophy of take some, leave some, and it works for me.The first time I had this happen was a long time ago but my response was "so what your telling me is if I go back to the sellers and pay them more money then you will be interested in the deal at this price?"

I'm a complete novice and will likely never make real estate my primary business.

My thought was that the foreclosures might actually be the bigger money maker if done correctly - if the tax lien holder forecloses the mortgage gets wiped out all together so you ownt he property free and clear (barring and IRS or other senior liens) In this scenario you get a house at a steal of a price.On a second thought though, if a property has a mortgage you could keep collecting subsequent years liens and when/if the mortgage holder forecloses you would get repaid - which would be a great return.Joe- are you experienced in KY liens?

But with debt service of $660, this looks like a money maker to me.One possible investment path with real estate is a form of forced savings.

yeah, but the best hunting grounds are usually wooded areas not suitable for growing corn, and renting out land for corn growth will yield a higher $/acre than hunting land or dairy pasture for the simple fact that growing the crops has the highest potential return than any other use for the land.If we were closer to a major city, I would consider developing on the land, but here it is -EV.also, i'm not the sole decision maker for our lands, and I don't think others in my family would be very happy allowing people to hunt on our property at all.

Appreciate the responses everyone...this is a possibility for a friend of mine looking to make real estate investing a career...he says hes saved $15K and was aking me what He should do...since im no pro like some of you are on here I thought it would be an excellent question to ask the forum.

On the surface it doesn't look like much of a money maker depending on how these items are handled and barring any major repairs that will inevitably be necessary.

The agent is the best liaison, but not necessarily (in fact, hardly ever) the final decision maker.

Lenders would be raising cane here and throwing law makers out of office!