I learned a ton about all the costs involved in investing.

Hey Everyone, I have been browsing the site for the past couple days and have been nothing but impressed by the wealth of knowledge by the members and am very excited about becoming an active member of the site.I am a single father that has been involved in some aspect of real estate and real estate investing for the past 6 years.

---this is the precendence that has been established in circumstances of deliquent income taxes in every foreclosure bailout I've been involved in.

Illinois RequirementsProperty management activities that involve general administration, like contracting for property maintenance (garbage pick-up, etc.) and paying general expenses (utilities, etc.), do NOT require a real estate license.

Yeah, it's sort of funny because I just spoke with a Realtor that apparently has been involved in investment properties for 20 years now.

If not then when you go to escrow to close the deal be named as the buyer.If you have a partner in the deal who is somehow involved in getting the project sorted I strongly suggest you have a clear agreement drawn up.

I know an entire book can be written on each creative tactic I plan on using but I’m just interested in knowing the basics (the contracts that are involved, and what to do with them after they are signed, and under what prime times should I look to use each tactic), I plan on learning the details through the school of hard knocks, that’s through actually getting out there in the field learning and making mistakes.another reason why I just want the basics, is because I don't want that whole "paralysis of analysis" thing to happen to me that happens to most beginning investors, its so easy to get overwhelm in this business that’s why most fail and the ones that are somewhat successful take so long to do so.So if anyone can answer all of my questions or part of them I’ll be so thankful

then forget it.unless you KNOW or have a VERY good idea of THE NUMBERS AND THE MARKET, do not under any circumstances get involved in a highly leveraged situation, especially when it's putting your private assets on the line.getting involved in a negative equity loan and all those options to pay this or that is just another way for SOMEONE ELSE TO MAKE MONEY OFF OF YOU.the questions you should ask YOURSELF is:do i HAVE to do this?

A modification typically involves a formal agreement whereby the arrearage or portion thereof is added to the unpaid principal balance.

I agree with John and Nate here.Forming an entity before you've done anything will only complicate your life and may be a big waste of money for you.Get involved, do some deals, and then down the road after you've made some money then you can look at incorporating.