I am fairly new to this business, I've established good connections with the major bank in the area and trying to approach the pre foreclosures owners offering them to save their credit and list with me.

They're about 5 months behind on payments.Here's the numbers:FMV after fixing about $105K-$115K.Probably needs about $10K in repairs.Loan balance is about $48K,Bank wants about $5K in late charges and legal fees to date.Wife wants to walk with $7500.My attorney (who's also their attorney and brought me the deal) suggests paying the wife the $7500 (obviously I'd only do this into escrow subject to my getting marketable title.Then buy the bank out (HERE'S WHERE I REALLY NEED YOUR HELP), I sure don't want to pay them full face on the note, nor any late or attorney charges.

johnmichael: Make locating real estate prospecting easier and more fun when you approach it like a game of cards, keep your aces and play by the rulesjohnmichael: For example, there are 52 cards in the deck—your job is to find the 4 aces that will do business with you now!

There may be local tax incentives for renovating your property as well as advantageous approaches to declaring your expenses.In SummaryIncome produced meets financial goals Suitable propertyAppealing locationVacancy ratesNeighborhood rental ratesNow you need to know the cash flowFirst, calculate taxable income or loss from the property.

But it's like whenever I see videos brought from my friend at universal, I always get jealous?

It takes a great approach to helping you think about how you see money.

Taking the LLC approach has one important tradeoff that you should be aware of; access to high LTV loans (a majority of lenders cap lending to LLCs to 80%).

What goes hand in hand with the mixed use approach (commercial and residential or low and moderate income) is that ther is alot of hand holding and education involved in many social aspects that flow through to housing issues.

I believe it is safe to say that Bernard "Barney" Zick has been vary influential to the success of many investors with his strong leadership and his own articulate delivery of education to so many will be of lasting value to many.Teaching is a balancing act: placing expectations on the student and becoming engaged with students requires a seriousness of purpose and a playfulness in approach that is more easily described than carried out.

It is not a high class park, has 10 older units set up and owned by seller, and 4 vacant spots ready to have units brought in.