you have to always ask for the financials to see how the broker came to that cap rate calculation.

I have always loved working with my hands and I am looking to gain financial independence by byielding my assests, and real estate renting seems like an awesome environment to do both.

Then, rinse and repeat.There's no reason you can't be financial free in under 2 years!

I came from a very financially poor childhood where nothing was ever handed to you, you had to work to get everything and I guess that I have never gotten away from that mentality.

I am very reluctant to utilize the financial information provided on the loopnet properties.

I've always dreamt about being financially free and I knew I could become wealthy one day.

I've always dreamt about being financially free and I knew I could become wealthy one day.

For most traditional banks, they'll want to see 3 years of tax returns, personal financial statements, P&Ls, and additional support (such as marketable investments, collateral, and/or liquid funds) that will show that you're able to support your responsibilities and repay all debt, but specifically theirs.

I've analyzed it these ways:  Using $0 as cashflow, it's financially obvious that I shouldn't buy the condo.  

Knowing the person you are lending to and their financials. 2.