Raymond, if you perform detailed financial analysis on your prospective deal and run the numbers at a realistic worst case scenario and the deal supports the 12% then it is a deal worth doing.

The occasional real prospect I lost was more then offset by spending that effort on my marketing ten-fold.

And you'll be wanting to bring prospective buyers into the place.If you're intention is to buy, and this looks like a good prospect, make an offer with an inspection contingency.

Our ability to close will depend on selling our house but its an entry level home and not much competition, that would be the biggest deterent.

It also was the deal that allowed me to pay off my college and grad school loans, get myself and brother a condo, and proved to a prospective employer (in financial services) to hire me for a very excellent position that I still have today!

The selling agent wouldn't give me any details other than that he wants to be out of the property completely in 5 years, but is willing to carry some debt now as long is it is secured by a credit worthy buyer.I am the prospective buyer and typically buy for long term appreciation, cash flow income (I think it's a fools dream to invest on property appreciation/speculation).

I just hope me being so open about my first blunder doesn't deter folks from wanting to work with me in the future.

Draw your own conclusion.Ask the broker who wants the listing for a full marketing plan including where besides MLS will she advertise the house, will she be using a professional photographer to take pictures, will she put together and have printed a full color brochure, will she be holding open houses for both other realtors and prospective buyers, does she have any exclusive contacts with out of town buyers and if it is an investment property does she work with investors.Depending on these answers it may be worth considering.In answer to your other question many real estate agents would prefer not to sell a flat fee listed property because they realize that the flat fee listing agent will do almost no work and they feel they will end up doing both the selling agents job and the listing agents job for 1/2 of the commission.

There might be appreciation prospects, but as far as cash flow, its impossible.These turn key rentals are rarely a great deal.

You can know all the techniques but if you don't have prospects you're dead in the water.I have many campaigns going at once.So for all the investors out there -especially the newbies -concentrate on marketing!!