Originally posted by Susan Lassiter Lyons:The biggest mistake you can make right now is paying cash for props if you want that cash back within 6 mos.

I'm planning on having properties in LLC groups owned by a corporation, my hope is that it will limit liability to each properties.The biggest thing i've learned in the past year and a half has been underfunding investments, our apartment complex has cost us greatly from unexpected repairs, thankfully this secured line of credit will allow us to have more than 10 times the expected ammount(s) to rehab each property per time.

Today Wachovia was cobbled up by all powerful Citi (which, weren't they in a biggest of messes two years ago).What impact, if any, would you think this might have on the closing?

It seems to be an avalanche after that.My biggest piece of advice is to stay on top of WaMu and to not give up on getting it sold short.

Soon I expect even submitting a short sale package will require a check for the full amount to be held until the lender accepts the offer.This is great news for those with good sources of ready funds that don't require any kind of approval in order to use them.If the bailout is approved in the next couple of days and signed by the President as promised this week.

The biggest problem that you will face as a wholesaler is that you will have a lack of buyers.

I like credit unions and a great source is www.creditunionaccess.com

Their lending guidelines differ a little in terms of fico score requirements, source of down payment funds, and the type of properties and areas they will consider.The question of who is the "best" is really based on the particular borrower and the specific property you are seeking to finance.

From the Appeal-Democrat (surely not a conservative source):Preparing for financial apocalypse

This is going to be an ongoing investment, of flipping and/or renting houses and this is our biggest battle so far.