Now, I can't at all vouch for the source of that statement.

I have an excellent mortgage source here in Las Vegas.

Ironic that Joe Soap is held accountable but our banking executives who helped perpetuate the biggest ponzi scheme this country has ever seen aren't.

If you get a hard money loan for 70% of the ARV, you will need about 10% of the ARV in cash from another source to deal with the holding costs.

At the end of the cycle you not only have a huge source of leverage but you have a check in hand every month to buy what ever you want.

One of the biggest things holding me back from getting started with investing is that I don't have all of these contracts.

The mls is a great source for a few years of a super depressed market.

After you get to know him, and he you, you can ask intelligent questions about REO...for starters...and it won't appear self-serving.A source like this isn't only good for REO's...and, in all honesty, in the centralized banking world he probably doesn't even deal with them directly...but what's the first thing a new couple moving to town does?

Mike can not point you to such statistics as they do not exist.Here is a statement from him he repeatedly posts:The 50% rule simply reflects the fact that throughout the United States, operating expenses run 45% to 50% of the gross rents.News flash Mike, you do not have personal knowledge of OE of hundreds of thousands of units acrosss the country and the results are not collected , printed, or published by any source whatsoever.

Then you need advertising money to find your investor/buyer (classified ads, signs, etc).Your biggest expense will be the marketing costs to find a deal in the first place.