It will also make it considerably more difficult for you to understand exactly how much money you are spending on the property, when it's being spent, and what owning the property is doing to your bottom line cash flows.

my first property that was a forsale by owner i just called my attorney and asked for a contract. they said ok(make sure you close with this attorney). so i went down and picked it up, the secratary then went over what all i needed filled in for the contract. intial every page and date it at the bottom and if there is somthing else in the contract you can hand write that in and both seller buyer need to intial it. then contact your lender and ask them what they need for the loan to go through. most likely its a survey, title check, pest inspection, home inspection, insurance information on the property, i'm sure there is afew others it all depends on the lender. ask to review the Hud statment a day before the closing. when i sold my first home FSBO i was so backwards in doing it, I didn't even ask for a deposit check on a $250,000 home. my friend the realtor just laughed at me. but it went through without a hitch.

The bottom line is that you could re-enter the mortgage market; start a real estate investing business; sell IT services; or anything else, but if you don't get actively involved in your business - you will fail again!

It's also been well established in lending that Asian borrowers tend to live on much less than us fat, must have it now type Americans, savings is generally higher, just saying, don't apply your personal expectations as to your life style on others, stay neutral and see what their life style is through general conversation.I'm not trying to push you toward accepting these folks but skimming the top with ratios and assumptions may lead to losing very good tenants.Those pets probably won't cost a hundred bucks, my two monster dogs were only a hundred bucks.Again, how long is this situation reasonably expected to exist of relying only on the royalty income?

Bottom line, if the lender does call the note, it will be on you (the borrower) to file suit and stop the action and then defend it or refinance the deal or complete the sale.To stay away from the due on sale, assuming you use a lease and a conditional option agreement, a Notice of Option might be filed with the effective dates, say a year off for a period of 60 or 90 days.

The paint looks great, nice neutral color but still enough contrast with the trim.Not to be negative, but how old is that roof?

Bottom line: As I am still a dealer, I hold a Class III.

That's probably enough to get you into commercial, and then you have a better class of tenants to deal with.Unless you are buying a really classy building, apartment dwellers are the bottom of the sludge pot of tenants.

I like to see the bottom line.

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