We had a lot of experience as business people so we were able to look at the traditional way of doing things like property management and a lot of experience with sales and were able to develop processes to grow our business.

Without proper reserves to handle a big-ticket item, an investor is asking for Murphy's Law to kick in.

I think it is a wise idea to get a traditional mortgage before rates increase as they are projected to in the first quarter of 2014.

Granted I'm going to heavily screen people.I guess my current plan is to take the New York State standard lease, add a bunch of items into it that I want.

I totally agree that the loan associated with that purchase will be scrutinized very closely, will almost always require two separate appraisals, both ordered by the lender, and a letter of explanation on how the property was acquired for such a low price along with an itemized list of repairs completed may also be necessary.

Before I found them I had tried several times to get traditional unsecured business lines of credit with no success.

My desire to invest in real estate is as strong as ever but I don't think it would be responsible to do a traditional buy and hold from out of state as my first investment project (and I don't have the down payment that would be required).

My desire to invest in real estate is as strong as ever but I don't think it would be responsible to do a traditional buy and hold from out of state as my first investment project (and I don't have the down payment that would be required).

Former British Prime Minister, Margaret Thatcher said it best, “and Socialist governments traditionally do make a financial mess.

REOs are purchased the same way as a traditional piece of real estate.