All expenses, including a broker's commission, are to be covered by any sum the broker is able to obtain in excess of the selling price net specified by the seller.That listings are seldom used.

I have heard good things about Nashville (I do have a lot of investments in Memphis) and am in my due diligence stage of that market.

It my sound strange to beginners, but when you are planning a budget and SOW it is easy to forget things so having a reference like that is a huge help.We are in the beginning stages of renovating a 4 family building and here is the general SOW we are following:Phase 1Water & Furnace services & misc plumbing issuesInstall electric heat in 1st floor front & 2nd back floor rearInstall spring loaded door hinges, replace locksets in all unitsinstall & new door in front floor rear unit Phase 21st Floor Back UnitFlooring & paintLight fixtures, new countertop, hardware for cabinets install fan in bathroom, new baseboard in kitchen1st Floor FrontUnitFlooring & paintLight fixtures, hardware for cabinets,install fan in bathroom,miscPaint common areas Phase 32nd Floor Back UnitFlooring & paintLight fixtures, new countertop, hardware for cabinets, install fan in bathroom, new baseboard in kitchen2nd Floor Front UnitFlooring & paintLight fixtures, hardware for cabinets, Install fan in bathroom, misc.Phase 4Re build Back staircaseInstall Smoke detector systemExterior paint

@Eric H.Congrats, as someone who is at the very beginning stages it is nice to see a success story from someone who was in my position not long ago! 

They should bring a great deal of experience to the table and focus on establishing the price that will attract one or more buyers, staging the property for maximum eye appeal, and market the property with multiple on line databases, ads, and yard signs (if applicable).

He is willing to take a major financial hit with excessive debt, but not bankruptcy.  

No matter what stage of life you are or what your dreams are, there's a way to use real estate investing to achieve what you want- from passive to active, real property to financing, and all the tools to enhance those activities in between.Real estate is a career for all ages and types.If you're just starting out now be patient.  

I think that good single families, duplexes or triplexes would be the best option for starters.In GENERAL looking back to 2008-2012 the US and NZ cycles are running somewhat parallels, so if this is close to reality perhaps in 24-18 months the markets will level off.At this stage I'm trolling the forum, educating myself on the locations, returns and keen to interact with Key players in the locations.

For you to get financed, you will generally need to meet the following requirements:- Have a net worth in excess of the loan amount- Have personal reserves of roughly $100,000 (10% of the purchase price) after you close.- Good credit- Reliable income source (don't tell the bank you want this to replace your job, you'll freak them out!)

Also, there are so many other markets in different stages that you could essentially go from market to market and never slow down.