Working on my latest REO acquisition.

High expenses (always felt he was being hosed on upkeep and commissions) and a lack of flexibilitiy for his family in peak season finally settled the issue for him.Now that I'm retired and am considering living in CO 1/2 of the year it may make more sense, but looking hard at the numbers I'm still doubting it.

I thought I would chime in here in terms of structuring your future real estate acquisitions.

I have finally decided on the route I want to go, and the niche I want to target.

I've been listening to REI podcasts and reading all sorts of everything for the past two years in addition to reading a number of assorted financial periodicals in general (any sort of periodical being another big weakness for me), and I think it's finally time to take what I've learned and take some action.

That way you would only be out of pocket for the acquisition costs.

Thank you for showing interest in our site and finally making the plunge to join up with biggerpockets!

I have been studying real estate for almost a year now and I am finally in the position to make something happen.

Question 3: Would it make more sense to wait and try to pick up REO's at final auction or should I try to make aggressive offers and just stay in touch?

Strong preference for properties that are close to the light rail expansion projects that are currently being finalized in Houston.Hopefully the properties are cash flow positive, but I am willing to go underwater since I am expecting at least 10% annual appreciation over 5 years.Close in properties are very difficult to find (and lock).