I have been in the mortgage business for the past few years and am interested in venturing out to the REI business.

Since I'm losing my job, I'm pre-emptively trying to avoid defaulting on the loan.

So I would not venture into buiness of this sort (Bulk REO's, NPN, etc.) and let the professionals handle their business cause they know what they are doing.

Have you ever heard that the first person that talks during negotiations loses?

(in this case I would have to say $5,000 or more in the bank) Also do you have any other assets that you can use to help leverage a better rate on the loan itself, you see the less likely it is for a lender to lose their money the better rate you will get.

I would like to find a mentor or someone that can help me through my venture if all possible.

The main problem seems to be that we could lose the tenant in 2 years.

Im in the military now and I'm actually planning my venture from out here in Iraq.Actually, I beat all of you...

However, buying a rental at or near retail is a guaranteed way to lose a bunch of money (in negative cash flow).

However, I would like to point out that the REA has an option...walk away...fine, no deal...everyone loses then.You can't negotiate, if you don't have a spine.