All I have to say to the new investors is...it works, just do it.

While I tend to agree with your analysis I think you have missed out on one very important detail:A (traditional) mortgage is a forced savings plan.Yes it is true that he is earning profit / building equity each month (so long as rents exceed actual expenses).

Hello all, I have really been studying all of the postings .

Possibly, they could sue you for specific performance and force you to sell, or somehow quantify the loss they sustained when you did not deliver (hotel expenses b/c of no home to move into, etc.) and (also) sue you for those damages.

First of all I want to thank all of you.

I'm thinking about the following1. form an LLC of which all owners are members and are all actively involved in the day to day operation of the business2. we make decisions together, though most of everything will be specified up front in the operating agreement (what we will buy, how we will spend money, and how we make decisions about when to buy, when to sell, etc)3. make sure to include clauses about "how people can leave and get their money back" and "how we can force someone out of the group" -- these will all be family/friends, but you really do never know what will happen with people and money.my questions are:1.

I just had a question.My house payment got to be too much to handle, I was forced to change jobs, abandon the house, and move south for work.The foreclosure sale is tomorrow, I wasn't able to avoid it thus far by doing In Lieu of, or selling it.

So I also am forced to look out of state, and I also am a newbie but I am determined.

If they call you first (say...after they get a letter or see a sign) then all is fair.

First of all, I don't advocate bankruptcy.