Ill start with my current situation and mindsetIm 22, I bought my first investment property 10 months ago.A duplex in my hometown (spartanburg, sc) for 108,000I put 27,xxx down, and I currently owe 69k on it.So far I have been lucky, having 100% occupancy and only 300$ in repairs.It has generated a little over 250 dollars a month (I lose 95 a month having it managed by a company)What I have been doing is putting all of the profit towards the principle, plus adding any where from 500-1200 additional to the principal each month.My theory on this plan was hammer it, get it paid off, then buy another, do the same except id have all of the flow from the already payed off duplex on top of my additional principal payment.I was looking at having my current duplex paid off in about 3 years and 2-5 months (depending on occupancy) Now....I have done the math several times, and tried slight changes to my original line of thought and I get the same outcome every time.....It will take forever to get big returns paying them off in full one at a time.I think I was being overly safe.Rental property is what I want to focus on.I can see eventually getting into commercial property as well (still rental)Id like for some experienced people to advise me on different ways to go about this.Something id like some criticism on is what I've been thinking about latelt:Lower end properties.Im not sure if I could get a loan on 22k (for a duplex) but im going to find outBut from what I have been seing, if you can keep people in them, the yields are much better than what im getting on my 108000 investment (which if both sides are rented brings in 1100 dollars a month)The area that it is in is populated....its just....lower end property as stated aboveIm not sure what comes into play when you get in that area, and if that's where I should be looking to move to with my investments but that's why im asking(In theory I could put 25% down on a lot more 20k duplexes than 108000 duplexes, and the mortgage would be next to nothing if I could get a loan, one unit would cover the insurance and mortgage payment with ease)Wow, long first post, =PThanks in advance

Go to "edit profile" from your dashboard, click on signature, then check which items you want displayed in your signature.

I just hope that I can nail the best possible outcome by having a effective VM greeting.

God knows what the outcome would be if you had a Federal Reserve created by a group of financially illiterate politicians.

jawsette, you display impressive google-ing skills, congrats.

- name- address- what is your situation- how did you get into it- what is the ideal outcome- are you willing to move out if I can help save your credit- how much is owed on your first mortgage- how much is your payment- does that include taxes/insurance if not how much are those- how many months behind- what have you tried to do to get out of it - why didn't it work- how much is your second mortgage- how many liens do you have for how much- has a realtor provided you with any value/comps of your homeBottom line is you want to find out why there are where they are - how much they owe - etc....the opening questions about tell me about you are designed to get you some trust with them - once they know you care a bit they will open up.Frankly - you need to pretend to be making an offer right there on the phone - get all the info you need to make an offer - then run comps and do your own research - but if your going to 30 homes and rejecting 27 I would ask yourself why you rejected them when you saw them - what was it you found out that you didnt' know and come up with a question

In today's global world, when you sneeze on one continent and another one catches the flu, the self righteous borderline arrogance that previous admin has displayed plentiful is a depleted, outdated (and dangerous) trait.

So I would pay you 2k up front to process my short sale up front regardless of the outcome and all you do is simply make a few phone calls and fax a few things?

This is not a good deal even for an owner occupant.If you can get a loan modification, the most likely outcome would be to get that 18K tacked on the end, or to get to spread out paying that $18K over a few years.

You net $49K on a sale, or $38.5K after factoring in the ongoing loss.IMHO, that's the best possible outcome on the values.