For example in my area most properties are listed with a TRUE cap rate (including all expenses that most people leave out) of around 5 or 6.

You have to pay off yoour $102K loan, leaving you $39K.

Wachovia is leaving the wholesale mortgage lending business, which means the Homes Seller Assist program willbecome even more important, plus the program has just been opened up to investors.On owner occupied properties they can deal with credit scores down to500.

You NOI calculation is not including vacancy either (which at a fairly standard 8%) drops your monthly cashflow another $64 leaving you at a $56 per month loss.

Are you planning to leave the area after you graduate?

In addition, it has been my experience that those with troubled credit may have a larger chance at over-paying for a property than a prime buyer.I'll leave this post alone now because I've said my peace.

If I were preparing a strategy for a sandwich lease what would I write into so that if my T/B did not make the entire year, thus leaving me with only a few months left on my seller's option. say I setup a deal w/ seller that gets me control for 12 months. 1 month later i find T/B but he only stays for 7 months.

Leave that for the upswinging markets :idea:

I'm a little worried that a Banker/Realtor/Lawyer won't take me seriously because of my age, but my parents said they will sign on a loan because I don't have any credit history.My major goals are to have a stream of income in college and to be financially free when I leave college.Does anyone have any advice for me?

Just remember to leave your real company name off of your direct mail pieces.