Gerber and decided it was time to take action.On the way back, I decided that the following week, September 12th (Pay day) would be the day I signed up for classes to become a licensed real estate broker.

Being conservative gives you instant credibility.

When you are dealing with cash flow you have to manage the properties lean and mean because you don't have a big appreciation pay day down the road. 

There are some towns in the Chicago land area that will not allow investors to "instantly flip a home".

Or are you getting some instant added equity because of smart buying too?

The foreclosed borrower got a $80K payday (how ironic) and the winning bidder ended up with a property with a 1st balance coupled with the amount paid for the 2nd putting them at 110% of FMV. 

By doing this you build instant rapport with your title company.

My main objective in the beginning was the "PAY DAY"...my first check to show to all the naysayers (including my brother, mom, and some friends) to politely and bluntly say "SUCK IT!".

You didn't really say what you are trying to accomplish (ie long term buy and hold, instant cash flow, gambling on appreciation) with your real estate investing.

Sold 4 acres 7 months later to a developer for 925k cash.. so nice pay day on that one in less than a year.Land in Path of progress:  4 acres Rohnert Park CA:  bought for 27k in 1994 cash unbuildable.. city expands its now in the city and zoned high density residential on the market for 3 mil but I will be happy with 2 million.. net profit 1.950.000 when it finally cooks off Maybe 2.9 and now with the fires we are looking at building it ourselves and keeping it ( which is not my business).. but of course no cash flow.. but oh well 27k for 2 to 3 million 20 years later I will take it.