My husband and I purchased a house about a year ago; we assumed what was remaining on the existing mortgage.

John then wants to use the remaining gains and purchase a beach condo valued at $300k (rent or second home). 

I know I can have a contingency for financing depending how motivated the seller is but I would like to know what I can do in this situation.

I am trying to find the remaining balance on a property that is in pre-forclosure.

This is a great way to learn and to get motivated. 

Worth $150KI have no money in savings now but could probably scrape up about $5KI have a goal of $6,000 cash flow in 18 months (or sooner).I am looking for sound advice on a strategy to get started based on my specific starting point.I am motivated for so many family reasons.

We have about $50k available -- so ideally would be able to put a chunk of cash down, and save the remaining cash for rehab.

If you are 22 and don’t have much going on in life with income or savings I would be fair to question your future in real estate it takes motivation a strong spirit and persistence .

We have about $50k available -- so ideally would be able to put a chunk of cash down, and save the remaining cash for rehab.

This way seller cannot agree to terms you would not agree to.If current rent is way below market then tenant should be motivated to sign.