I'm not saying I wouldn't attempt to shave off costs, etc., but seeing what the current owners/managers already do would be a good starting point.

I've been handed this mess to attempt to clean up.

Waypoint does some unique things: - they leverage properties with a bank and get 50% of the money out at 5-6% - they rent the properties on a lease option and get a 10%-15% premium because of this - they are attempting to automate everything with computer programsI think they are around to stay... it will take them 2-5 years to know how big of a success or failure there business model is.

Since you're starting out....those who attempt to squeez dimes get a reputation among Realtors and other investors.

This is a fantastic answer for small operators.There have been at least two people who have posted here attempting to do just that.

Brian P How is it sweet that someone overbid a property that you were attempting to buy for an investor client?

I guess it would be unwise to use Roto rooter, so I will attempt to use a cheaper plumber

Have any of you attempted (yourself or via your servicing company) to make sure the payments, once modified and on-time, report to the borrower's credit report in an attempt to make refinacing easier?

So, calling the business "private money" would, again IMHO, be attempting to wrap an air of credibility around what's viewed as a somewhat seedy business.

If he is, let the board of realtors know he's attempting to take the 40% as a net sale and tell him to hit the road!