But since he does not have much money, should I try to negotiate a higher percent of the deal?

From my perspective I'm more than ready to start transferring funds and there's no question of how much I owe other than maybe some percent of rent off for the last couple months.

LOL, Mitch, I thought you had to be more than fifty miles from home to be an expert!

to clairfy for the OP, when they talk about hard money loans and the high interest rates of 15%, they are speaking of interest only payments, which makes the payment only a little more than a 6.5 percent amortized payment would be....it doesn't really affect your cashflow as much, since it's not amortized, but then again you're never paying it off, just the interest---eventually you gotta refi to pay the whole amount borrowed off....just for a quick example, if you can get 100,000 your monthly payment at 15% interest only would be 1,250.

[LINK REMOVED] As far as hard money goes this has been my experience.When the market was hot 3 + years ago HML lenders were maybe at 11 percent with low credit scores and a few points with a high ltv.

That extra dollar becomes less important with the opportunity costs of life. Time

Anyone have any experiences with the company Direct Buy, as always, if it seems to be too good to be true it probably is, as they normally advertise 50%+ percent off, but my thinking is even if i was to get 20 or 25% off, with the volume alot of people on this site do in rehabs and such, it would seem like a good deal still.

If you can't change a large percent of the 'hood' your wasting time and money.

Yep, like I said, you don't base your price on what they owe on one hundred percent of the properties you buy.

My listings go on Loopnet and Costar.Costar is one fee monthly for unlimited listings.Loopnets model is a different animal.YES anyone can post a listing FREE.The problem is less than 10 percent of loopnet buyers see the listings.Loopnet knows this and it is how they generate their fees.To be a premium member based on your number of listings can get real expensive quick.This is why I only take realistic sellers as to give them proper exposure I have to outlay plenty of capital.Loopnet does give me a lot of leads and help close some deals.It is not the only avenue however but part of the overall puzzle.