deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

Scott, that is Not a conventional loan requirement-not Fannie or Freddie.2 possibilities: 1) that is a WF specific overlay 2) your loan officer needs a drug test Or 3).

If prices are going down just because prices are generally going down and buyers are feeling spooked, that's one thing.But if it is depreciating because the drug dealers are moving into the neighborhood and all the factories have closed and there is no living wage work, then that is a different situation entirely.Also, when you are running your figures, remember that the dollar loses perchasing power over time.

We are more concerned about our commitment to the workout, and diet.

No income, no job, 38 accounts in collection, multiple evictions, drug convictions, pit-bulls, 6 roomates none with jobs..... nobody you can rent to in that lot.This winter, the callers are practically non-existant and the majority of them are telling me they only want a place for about 6 months because they are planning on buying.

Be a shame to discover you've given a year's lease to tenants who call you at 2 in the morning to complain about the neighbors, or to a suspected drug dealer.You can give your tenants a 30 day notice that you are switching to your own rental agreement and give them copies to sign.

I can have a person kicked off of the entire Sec8 program for two years for any lease violation including suspected drug use, not paying rent, not obeying noise ordinances, etc at a property so they have quite a big interest to take care of things as they can easily lose that free money, and they definitely do not want to do that!

Here is what I found listed as an average daily diet for Michael Phelps:Breakfast: Three fried egg sandwiches with cheese, lettuce, tomatoes, fried onions, and mayonnaise.A five-egg omelet.A bowl of grits.Three slices of French toast with powdered sugar.Three chocolate pancakes.Two cups of coffee.Lunch: A pound of pasta with tomato sauce.Two large ham, cheese, and mayo sandwiches on white bread.Energy drinks.Dinner: A pound of pasta with tomato sauce.Six to eight pizza slices (basically, a whole pizza!).

I suspect that the father spend the money on drugs, but anyway, she didn't pay the rent.

Drug dealers would go to prison and I'd lose the key.9.