Here the club would receive 30% of the amount he collected. 8)

You now have about $12K invested in the property, if you include closing costs on the loan.You rent the place for $1050/month, and assuming an 8.5% vacancy rate (a month a year) and expenses of 40% of net income (a little low, but okay since you just rehabbed), you should see the following returns:- $40,000 in total equity created from the property ($120K valuation minus $80K loan)- Year 1 Cash flow: $862- Year 1 Equity Accrual from Payments: $894- Cash-on-Cash Return: 7.43% (not including equity generated by rehab)- Total Return: 15.14% (not incl. rehab equity or tax benefits, which are investor dependent)- Total Return Including Equity Generated by Rehab: 347%If you choose to keep the property for longer than a year, your total return will obviously drop, but you're still receiving nearly $1000 a year in cash flow, $1000 a year in equity, and still have $40K in equity generated by the rehab.Rinse and repeat...

I just received a call from my banker telling me that this policy would be effective on June 29 2008.

The reality is that most mortgage companies do not care as long as they are receiving their monthly payment on time every month.

But what about if you structure the deal like this:* conventional mortgage of 80% - vendor only has a mortgage of, say, 50% of purchase price, so the 30% cash they receive at closing covers realtor's commission etc* vendor carryback of 20% - vendor gets paid the remaining 20% as a balloon payment in 2 years, plus interest of 10% (or whatever is agreed)Why would a realtor be opposed to this kind of deal?

My new construction units offer cash flow regardless of what you claim, and they have middle income tenants in areas where we WILL receive appreciation over time, unlike the depreciating values in OH.

So what we did is negotiated the 35K assignment fee as the wholesalers (received a 35k check from the end buyer) then as the owner of the property sold it for a slightly higher price of 49k profit in which we receive the 49k from escrow at the successful close of the property.

I just started receiving Michael Kimble's emails too- they are tempting, but I agree with Mr_Investor's remarks.Any updates on whether his Customer Support is any more accessible and responsive now?...

A few suggestions which I think would enhance biggerpockets (some taken from vBulletin), in no particular order:* multi-quote - the ability to select multiple posts for quoting* kudos - ability to register approval of a post, or agreement with a point, and then count these and somehow rate posters - just provides more incentive to share and try to be constructive and helpful * ability to view the forum in wide screen format (maybe you can but I can't see how - the forum text only takes up about 30% of the width of my screen)* more/better emoticons - happy to suggest some if you like ;)* also I'd like emoticons inserted where the cursor is, rather than always at the end of the text (ie if you edit and want to insert an emoticon in an earlier para, you seem to be only able to do it by cutting and pasting the emoticon, which is always inserted at the very end of the whole post)* I imagine this is related to the fact that whenever you format some text, your cursor is moved to the very end of the post; I'd rather the cursor be left where it was just prior to applying formatting (eg bold)* ability to report/hide abusive posts, to try and stop conversations degenerating into slanging matches :roll: Love the forum - thanks, Josh.

, she signed some papers to receive a 1/4 acre lot of land as part of her parents divorce settlement - the land was in - a new planned community in Navasota, Texas.She forgot about the place, until about 5 years ago when we were asked to pay back taxes - We complied, paying probably 400% of the value of the property itself in taxes (We were not aware of any alternatives) - since then we have been paying taxes on time.We once went to view the land (there is no house) - safe to say the community never "took off" - there are a few houses enclosed in woodland, with the occasional manhole cover in the middle of the woods.