For a true flip you will not "own" the property at all.

Isn't it generally true that the less I have to put in the deal out of my own pocket, the better my returns will be?

I don't know where you are seeing houses for 1k, but if it sounds too good to be true, it probably is....I'd recommend using the links on this site to locate reo websites directly....

Richplan,That's true that a lof of money can be made in real estate...but it's not as easy as it sounds.

I'm a single male in my early 30's and currently don't have a pressing need to move, but I feel since I've been here for 6 years I should do something with it, rather than just sit on a potential investment -- especially since the value has doubled since I bought it.My mortgage is 1450.00 a month and HOA is cheap -- only $100I think at best I could probably rent it for $2300 a month.In most of the real estate books I'm reading it says to always sell and upgrade every 5 years.Is this still true?

I have read somewhere that it does, but I was not sure if that is true for every case, or even true at all.

I would be pretty skeptical about it...but I'm usually skeptical by nature about 'Make money quick on the Internet" things - especially when asking for a credit card and 3 digit verification # over their "totally secure" entry form.

It's the only phone # on my business card.

This is not a get rich tommarrow scheme but a true way to build equity, and a line of credit that you can enjoy.

Google and business cards get the job done and people care much less if it's a .net, .biz, etc.