So in my first offer on a rental property I brought in someone with 20 years of experience who will assist me in buying.

We also model the profitability and hold period of each property based solely on cashflow - we assume no appreciation in value (which, when you consider inflation, actually works out to depreciation) and that the property will be disposed at the same price (or perhaps 5% less) than its capital cost.While this approach seems to be far too conservative in the eyes of other local investors, I would rather treat any gain on disposition as a windfall and retain the ability to profitably sell properties below future FMV if we need to dispose at an in-opportune time in the cycle.

Hi BP Family,I wanted to get some advice on the best way to approach commercial multifamily brokers on acquiring their expired listings.How willing are brokers when it comes to sending Investors their expired listings of apartment buildings?

Jon, happy to clarify...so far my plan looks like this:Looking to start by picking up a small multi-family, in order to spread expenditure costs and vacancy hits as opposed to the single-family approach.

Approach people like landlords and other investors with serious offers in a professional manner.

We simply approached him and he's interested in moving here and renting this property. 

I think @Michelle L has brought up a good point about the credit cards.

The reality of a Rich Dad person is irrelevant and focusing on that means you've missed the point of the books and not learned the needed lessons of how to think about approaching your finances and investing decisions.

Just my personal approach :)

I have brought and paid more than the property was worth and still cash flowed.