Property Cost $200,000.00 Repairs Needed $50,000.00 Number Of Units 10 AVG Rent Per Unit $475.00 Gross Schedule Income $4,750.00 Vacancy Allowance 10% $475.00 Gross Operating Income $4,275.00 Less Operating Expenses Accounting $25.00 0.58% Advertising 0.00% Insurance $125.00 2.92% Lawn / Snow $- 0.00% Repairs $85.50 2.00% **Since i guess high for repairs, i lowered this down to 2% Monthly Taxes $458.33 10.72% *** Renter pays Utilities Electric $- 0.00% Gas $- 0.00% Fuel Oil $- 0.00% Water / waste $- 0.00% Total Operating Expense $693.83 16.23% Net Operating Income $- 0.00% Property Cost With Repairs $250,000.00 25% Down $62,500.00 Additional Cash Down $- Remaining Balance $187,500.00 Gross Operating Income $4,275.00 Monthly Mortgage $1,875.00 Total Operating Expense $693.83 Monthly Profit $1,706.17 36% profit My formula always shoots higher on the cost to protect me.

A few years ago a CPA TOLD me that I better sell my oil stock; it was way down.

Huge meetings just don't do that much for me and the last smaller group I attended was a bunch of bookworm/no-do types led my a snake-oil saleswoman :)Call me a bit disenfranchised with our local groups at the moment.

Theres alot of influence of oil and value of the dollar, oil demand is down for the first time in decades which I believe will influence the dollar greatly.

.- Install added insulation (attic, basement ceilings, ect)- Install Energy Star appliances- Convert oil furnaces to gas if possible.- Upgrade furnace to high-efficiency unit (90+ rating)- Convert oil water heater to gas if possible.- Recycle: demo, paper towels, drink bottles, ect.- Replace the toilet (old toilets use a lot more water!)

and discharged CH 7's have little unsecured credit card debt.

I've been trying to preach about the myth of loan modifications for months now.Sheila Bair and Barney Frank are trying to sell snake oil to distressed home owners.

I don't see how it's really cheaper to ship our raw materials to China and let them make things and then ship them back here than it would be to make things locally and save mass quantities of oil in shipping costs.

They all made fewer mistakes than their financial peers,were pretty large risk takers,and involved themselves in either public companies,highly leveraged LARGE acquisitions or oil and gas.

I got into the survey work, positioning assets for oil companies in a marine environment, which led me to some networking and real estate deals, which led to my working for the investor group…..none of which are any less stressful than the previous jobs.I look forward to networking here and learning from more experienced people