Buying a property without equity…. means that if you had to sell.. you will taking a loss equal to AT LEAST…all costs associated with selling.Selling a $400,000 property that was bought in the last two years means that AT BEST… the equity is equal to 75% of the down payment. ( this is a rough statement and anyone who wants to crunch the hard numbers is very welcome to post them)$400,000 buy… $$60,000 -$80,000 down… $24,000 to the buyers agent… and another $5000 for other closing costs.Starting balance ..is $370,000.New selling /asking price… =$450,000 depending on the region… good luckBuyer counters at $400,000 and the seller accepts…Minus the realtor fees $24,000 and some concessions…$10,000 ..Net is $366.000 Ok this is a very rough discussion.either provide tighter numbers or accept the drillThis seller got out lucky.And didn’t account for the interest paid out or the new carpet , paint dishwasher and sod.Buy a business with equity….

However, I will say that my accountant has told me that he basically doesn't touch this stuff since it gets messed up too easily. 

After accounting for your monthly payment, vacancy, maintenance, management, and a return on the the cash you have to put in, are you still in the black?

Hey @Choon Yee Dee, As accountants on BP we cannot promote ourselves directly.

They are unable to answer questions regarding positions that you do or don't take on a return.The other issue that I have is that it appears that you have to educate your accountant on positions that you are eligible for when it should be the other way around.

Account Closed, your forgot the folks with substance abuse problems and gambling addictions, and of course those who are really terrible landlords. 

The only thing I’m able to find about buying pre-forclosures online is all about “subject to” so thank you for sending somthing other then that.

There will be requirements set forth by your lender that the insurance coverage must fulfil.Take into account other coverage alternatives like liability insurance, umbrella insurance, or coverage for certain risks like floods or earthquakes, depending on the property and your situation.Examine the insurance firms you are considering's ratings for both financial soundness and consumer happiness.

Oh, and just to be clear here - some of the approved condos here in Texas you can just check with an online search that takes maybe 60 seconds of time.  

I'm here to join a community of like minded people to help with accountability and personal growth in this area.