(Surprises).

@Tinotenda Arigurinu you would be surprised at how many investors do not know about the 50% rule, or the 2% rule etc.

Surprisingly our conversations have been very easy, I'm guessing cause he's stoned...I am pretty comfortable with my screening process as I check: Credit, criminal, evictions, and bad checks.

.- My last point is that, unless it's a BIG house (more than 2000 square feet), I'd be surprised if you can't find a paint bid for much less.

Hi all,I just met with my RE agent and surprise, surprise, based on the pre-approval that I got from our broker, I could not find any properties that I could positive cash flow with unless I put more than 20% down in "decent" neighborhoods.For you SoCal investors out there, where alternatives are you looking at?

A bit late but to anyone else reading this post - that test is not easy at all - I was fortunate to pass the first time around (actually a bit surprised since i thought i failed).  

Since cap rates are the result of market actions AND a lower cap rate means possibly that the market is paying MORE for an equivalent income stream than say Surprise, AZ it could be very well that there is market anticipation IN LA that rents are on the way up or that prices will increase even more or BOTH.

Feel free to shoot me a PM any time (as a potential partner, client, customer - or local insight into my area, Harford County MD) - likewise, don't be surprised to hear from me (particularly those in the Baltimore area).

Type "finding motivated sellers" in the search box above, and you might be surprised at what you find...Here's one worthwhile post (of many):http://www.biggerpockets.com/forums/93/topics/76751-finding-motivated-sellers-my-list

I thought his answer would be along the lines of I found the deal, so he surprised me with that answer.