I'll follow your thoughts today and celebrate tonight.

GO CELEBRATE EMOTIONS WHEN YOU SCORE THE BIG PROFIT AT THE END OF SALE OR REFI AT THE BAR etc etc lol.The bank will go lower, they always will go lower.Banks are down right retarded about money when it comes to an REO - they make bad choices financially from our perspective looking in, but that is what creates opportunity for people like us.A good deal......... depends on the ARV and trends in that area (comps) I don't know any markets in Illinois but nationally in compact areas if you can still get it bought 25-30% below the comps then that seems to be good.

If they cannot provide a sample policy contract, something is probably wrong.Just remember Jennifer Lopez had her hind-side insured, you can certainly get a dwelling policy to cover vacancy and renovations, but it's not standard and enter into such agreements with skepticism and due diligence. 

Cash, check or major credit cards accepted.Come and be ready to Celebrate All of your Wins!

Yea maybe I could pick up an average $5mil home in Alpine and rent it out to celebrities when they come to NYC for a trip from LA :lol: You're probably correct with Hackensack, Lodi, Garfield and other such towns, I just have to look hard for the deals and am very excited to start.I had one more question, I read somewhere else in the forum about the "2% rule" when buying a rental; of what I understand, the rule says not to buy a house unless the rent is at least 2% of what you purchased the property for.

After listening to the podcasts (I'm on show 39 now, almost caught up), you are a BP celebrity to me.Oh, I almost signed up for a twitter account just because of your "knock knock" request.Thanks,Munck

@Kevin Gerace you've got some good feedback from @Jared Lopez and @Gil Hartman about self directed IRA financing.

When you win it, sounds like you'll have enough room to throw a party for all of us to come celebrate with you!

My wife and I will celebrate our 40th wedding anniversary this year.

Okay, you celebrated, now get back to work!