She made $30K a year before tax, plus had a primary residence with a partner/spouse/whatever that would eat up more of her income.

I would put the 20% down but I am trying to purchase more properties and I am just starting out so putting down 25000 for each property will eat away my savings pretty quick.I was just wondering is there a way to write the contract where a percentage of my payment goes straight to the principal rather than a standard interest rate or is that more in line with a lease option?

Distance from my location - I thought I should start with something that won't require more then 2 hours train, though I'm not planning to manage it myself but using a PM.I gathered all the cities around and scored them on a spreadsheet and that's how I started focusing into the city to find the right neighborhood.Again I'm really sorry for the green questions but I'm taking my first baby steps and your feedback is really valuable.Lior

If the market you are investing in doesn't have the rapid appreciation of an area like SoCal, Phoenix, or Vegas traditionally have then the sales costs will eat up any extra cash flow you have made between the difference in payment amounts.

In my market, green grass that gets mowed regularly is good enough.

Hopefully the garden state will lead to a lot of "green" for you.

Do you think urban areas will benefit from this change as traffic jams go away, people no longer need to find parking, and garages turn into green space or do you see suburban areas benefit as people's commute time will be reduced and they can work while they commuting?

Hey Everyone,It took longer than I expected, but my first batch of yellow letters are finally done.I will be mailing Saturday, so people will receive early next week.For the first batch we used my just girlfriends name on the letters, she will be answering most of the calls while I'm at work, and since she wrote most of them it made sense.My list came from listsource, my criteria was the following: Total Assessed Value $1-$150,000 Last Market Sale Date 9/1/1900 - 9/1/2008 Property Type Residential: SFR Equity(%) 41 to 100 % Bedrooms 3-5 Absentee Owned ALL STATES Exclude TRUSTEEMy yellow letters were written with red ink on a 5 x 8 yellow legal pad, The envelopes were an A2 (4 3/8 x 5 3/4) in a Pastel Green color.I am mailing First Class USPS, with multiple stamps on each envelope to grab attention.The total number of letters sent is 330, Spread between 5 zip codes I am familiar with.

They are offering a land contract at a rate that eats up all cash flow for the term of the loan.

Hi, Im a green Noob, looking to get started  rehabbing / flipping in Southern California.