Many will add all sorts of junk fees to your costs.

The big players (lawyers, accountants, etc) are already involved in these sorts of deals.2.

The excess inventory that has built up in some of the larger markets will be absorbed over those quarters, particularly in Florida and Las Vegas as their population growth rates are very high.

Maybe even a realty/investment company of some sort.

.$130,000 Purchase price $2,600 Purchase closing costs $25,000 repairs $12,600 interest (computed on above items, 16%, 6 mo, $157,600) $11,900 points (computed on above items, 7 points on $170,000) $3,000 holding costs (insurance, taxes, utilities) $17,600 sales closing costs (6% for agents, 2% for other costs)$202,700 total costs$220,000 sales price $17,300 potential profitThat's sort of a worst case for the hard money costs.

My guess (and my realtor sort of confirmed this) is that the market is whacked out due to the after effects of Hurricane Katrina.

The proposal is really about letting the two agencies buy larger mortgages.

I think that sort of party animal is known as a pre-hibernating bear.REI- I know the Santa Teresa area alright!

Better if we did so in another thread in the L/O forum.What sort of technical work do you do?

They say that the rents will be 695$ a month for each apt which I am not sure about..for this area these rents are about 100 too high...but they say that the area is changing...but maybe they can only get 600$.....the area used to be a bit more degraded but they just got a new shopping center and all sorts of stuff like that so it seems to be going up...I have never bought anything before and would also like a house...I have a total of about 300,000 cash.