I am trying to plan ahead because if and when my house gains considerable equity...I am going to do it again at another subdivision

Even with prices down a little and rents rising a little you still have a poor rental market.

It involves putting undervalued or preforeclosures under an 'option to purchase' for a small consideration fee and then finding an end buyer to sell the option to.

- - - - -(Please note: all properties will be submitted to the group for consideration, but not all will be accepted.)If this is something you can work with let me know.Stu Stanton

Hi Folks, 8) Rise in mortgage rates is continued, 30 year fixed - Rate mortgage increased by .03% and ended up at 6.32% on an average. 5/1 ARM increased by 0.06% and ended up at 6.14% so folks choose loans before further rise.

But I might give it serious consideration if the offer had a pretty realistic pro-forma (expected) P&L attached that showed me the buyer knew what he was doing and was not a babe in the woods.At that price range I doubt the seller really expects a complete noob to come up with the money.

It's also true that rents do not rise as quickly as sales prices so there may be some relationship between those two factors as well.AFAIK you can NEVER buy at "market" and make money, on rents or rehabs.

The operating expense on the LA home could be considerably lower than even 30% of gross rents.

I dont mind the working, I mean the 8-5, I just dont like being confined to one area and being told when I can eat, for how long, and that sort of thing, we're in a high rise building, so when i look out window it's so pretty, it makes me feel like a caged eagle .

A good friend of mine once told me "Late to bed, early to rise, work like hell and advertise".