Sherry,If you decide to use a mortgage service to collect your payments make sure they are licensed, bonded, and have insurance and get references and verify everything because the first of the year you will see a lot of mortgage service companies opening shop all over the Internet.

Several decades ago, they offered shop classes where students could at least be introduced to the trades (plumbing, electrical, etc...), then apprentice under someone to really become an expert at it.

SO, they find some other newb wholesaler with some crappy non-deal, then tack on $5,000 and start shopping it around to all their 'buyers.'

Another ex-tenant, has a full time job, does a lot of shopping on eBay, he has half a dozen packages for UPS every day.

@Karen Margrave thx for the reply, I have had numerous credit card offers in the mail, just like im sure everyone else has I know real estate has a lot to do with leverage and having mortgage debts, when it comes to personal finance I just always believed if you cant pay cash you cant afford it, I guess I just need to change my philosphy in life, and get a credit card, I just never believed in the ripoff adjusting extremely high interest rates most americans get in trouble with.

Let me know if you ever want to grab a coffee and talk shop.

I live in Earlysville, VA and I am currently investing in the Richmond, VA area.I am an ex-patriate Brit now naturalized American citizen :).I invest with my partner John Kendall.

I'd shop that loan around. 6% is not too bad but I'm getting 5.25% right now on 20 and 25 year loans.

Buying a mattress is like shopping for a car from what I recall; the markup is huge and you have to haggle for a decent price.

:-)).My wife tells our kids not to buy anything unless it screams their name when shopping.