A good mentor will be concerned about your development as a real estate investor and will take the steps necessary to ensure that you are well-versed in multiple investing strategies.

I do not have enough cash on hand to buy free and clear and I am very concerned about the finance world.Plus, as you indicate, the 'deals' just are not quite right.

Dan, As your real estate learning moves forward you're facing the harsh reality that this can be a tough market for beginners -- and those of us who have been around a whole lot longer -- but the best thing you can do is believe in yourself and not give up on the dream.

*Did I tell him before he had the appraisal done that I was concerned the prices had dropped enough that we would not be able to get the money we needed?

But honestly, do you think Florida's main concern right now is people actually PAYING on their defaulting loans???

I'm sure these are basic questions, so I guess that means they will be easy to answer :wink: I am a beginner when it comes to buying real estate.

I'm actually rather concerned for the first time in my investing life.

Also, homeowners in default vacate their houses for any reason they see fit...mostly because they are done caring about the property...they have to leave anyways, why not move on with their life before they bank evicts them.It is also no concern of the investor why the homeowner chooses to move out.If you can swing it timing wise it is a good deal for several reasons...the house doesn't sit vacant....you have somebody living in it that knows the deal (you disclose to them exactly what is happening and charge them a monthly rent below market value)...they can show the house for you if need be...the utilities get paid...and the investor can make some positive cash flow while negotiating...let's stop pretending this is hurting anybody...and most of all...dont make me think for a second we are concerned about the lender losing money because the investor is profiting....its the homeowner in default on the hook and nobody else.

I am concerned because I have been told that the bank won't allow it even if the contract is signed.

:roll: I have to say that I’m have not been concerned about how much more prices will drop in order to do deals.