Thanks for all the welcomes guys, basically I started about 4 years ago when I borrowed some money from a relative and purchased a fixer upper.

Aside from meeting basic legal requirements for any contract, everything else is entirely optional, including the security deposit amount.

Basically, from the lender's point of view, your friend (their borrower) could be in this just to split the $90k with you.

Earlier today, I was sent an article from the folks at Forbes that they thought our readers would be interested in.The article is a great read and brought a new perspective to things for me.Subprime In Sheep's Clothing talks about how a new trend in the industry, a mass of defaults in Alt-A loans, may continue the downward pressure on the markets right where the sub-prime loans left off.This one is worth looking at!

If you want to get into the rental property business, study the business to learn the basics before you buy and then start small!

Also, if you can demonstrate that the value is less as a direct result of their actions, I would think you could recover your half of that loss as well.I would recommend doing as much research as possible because you are basically on your own.

I was banking on her staying a long time, if that makes sense..I figured you give a nice home to a lady who is basically screwed up, but wants a nice place to cal home, why would she want to mess that up?

It is a VERY comprehensive basic real estate course and probably the starting point for more successful investors than any other course.

First and foremost, unless you have HORRIBLE credit that 9% is way too much with 20% down. now for the basics...Purchase price $36,000down payemnt $7200financed $28,800monthly payment $293insurance/taxes about another $100 lets figure $400 a month for all thistotal rents $700 per month x .60 (assuming you are going to manage the property)= $420 - $400 for mortgage payment = $20 cash flow per month...now the norm that people seem to shoot for is $100 per door, so you are about $180 short of that.

I got in touch with a buddy of mine who now has his RE license and he will be my new buyers agent since I basically fired the agent giving me the run around.