I am reading everything I can get my hands on, and would like to take the next step of building a support structure of professionals for consultation and mentorship.

This way you are targeting not only pre-foreclosures but also people who want to sell but their place has a cosmetic or structural problem.

A good lesson about the importance of properly structuring a partnership in advance and not trusting anyone but certainly an expensive one!

Bathrooms.

My goal for 2007 is to brow beat my painter into fixing that awful spray paint job he did yesterday on my new rehabbed kitchen cabinets, finish the bathroom in the same house (at the stud level) and FSBO my 3/2 project by the spring market.

The downside is that while they're unoccupied (especially during renovations), you have people squatting in them (to live, or to go to the bathroom), and people will vandalize them for fun, and eventually they'll steal the copper out of the walls, as well as anything that has any kind of value.

Westcastle's managers have a combined 25 year track record managing and trading distressed debt and structured assets.

-the very basics, that im sure u know allready: price, general condition of structure, property size.

lot going on in this post.first, no way will you get a 5.5% on a non occupied investment property.(2) you *may* end up with positive net income on the property without having the mortgage writeoff - this means a visit from the tax man. as an investor, the "write offs" or tax deductions you will receive, if your business entity is structured correctly and your CPA knows what he/she is doing and you keep tabs on it, will far exceed any write offs you will earn anywhere else...look at it this way...IF...you HELOC...taking 100k out of your property...now you've got 100k to invest in an reo or other distressed property - CASH...real estate is about leverage...but with the CASH purchase, it frees you up to do many different things down the road...IF...you "buy right" (below market value > 30%) - combined with the CASH purchase, you'll create a return on your investment that is EXCELLENT.if you took an arbitrary 100k (from anywhere, say it grew on a tree) and you stuck it in a savings account earning 5% (which is a lot for a savings account)...compare that to the 20% return you'll get off the monthly cash flow from a good rental...not to mention depreciation..and future leverage options available to you through this investment...the returns just compound.now this all deserves a qualifier...we don't know the specifics of your current home, your finances, what you owe on it currently, other debts etc.all that must be taken into account.

During 07 and continuing on im working on a business plan for a business. still unsure about the business structure probably a C-Corp and with that business i plan to go national with it. yes the whole country.