The sooner you lose the "I don't need to pay someone, I can do it" attitude, the better off you'll be.Hope this helps ...David J Dachtera"Success is not a destination.

Problem is that if I sell, I will lose $6k immediately for a prorated soft second mortgage from the Cherokees.

Don't do something silly and end up losing it.

Is it me being a new investor or are the deals (rehab and "turnkey") posted in the Marketplace a bunch of losing properties?

If you are not in the right market you will lose money, rationalize the losses, and lose more money, get frustrated, and give up.  

A POF from a convential lender means you have passed the lender's credit and income criteria, and if the property appraises high enough, with no title issues, financing will be available.Since hard money lenders place much more emphasis on the property securing the loan, the POF letter ranges from significantly less reliable as compared to a letter from a conventional lender, to outright worthless (some hard money lenders provide a form and you fill in the blanks, i.e. no real approval).

If I'm right in that Warren is right, then his short term under performance may very well be due to short term irrational pricing in the markets more so than his losing his investing mojo.

I know people say there is 'plenty to go around', but the fact is, the more buyers there are, the more it drives prices up and we all lose.

IE basically the turn key markets I would also want a deposit that I could draw on for maintenance calls. and that the owner would need to replenish.. what happens is you have a sewer leak.. tenant is in a world of hurt.. owner is gone on vacation and won't communicate.. bill is 1k.. no money to pay for it.. so PM not wanting to lose a renter and doing the best they can fronts the 1k..

I have a lot of money tied up in the house, but I fear if I sell too soon I will LOSE money, I don't want to lose money obviously.3.