Being in northern NJ (where a garage is 200k) and first timer with limited funds is incredibly discouraging.

Hi Joe,I used to live next door in Dunbarton...actually bought a place in 02, rehabbed it while living in it till 05 and sold with good profit ( but then again, who didn't during those years).

I think on preforeclosures I am confused on that - equity or no equity I start with the owner right (the letters, knocking on their door, etc) and in either case I HAVE to get their approval to either make some sort of deal with them - OR - get authorization to work with their lender - is this a true statement?

You wouldn't include garages.

Summary of my project: Upgraded old electrical systemComplete kitchen remodel (including soapstone countertops, copper farm sink, stainless appliances)Complete bath remodel (two)Removed walls on stairway, so now open stairwell with new newels, ballisters, etc.All new windows, doors and door hardwareAdded/replaced all molding (crown/baseboards/door/window etc.)Replaced all lights/outlets/switchesRefinished all floors (wood)Replaced all metal radiator covers with custom wood covers (turned many into great little windowseats)And finally (of course) every single paintable surface has been painted!

Ok,SO I have a freind that calls me and wants me to fly to Detroit to Invest..Here's the deal he has 20-30 properties that we can buy for 15K fix for another 30 KWe will be Rehabbed at 45KThese rent for $900The ARV is 90K for this market but resells are bland right now..Our take is to get 60% LTV BANK loan of 54K at 20 year AmWe will cash flow at about 150 a door per month on the 20 Year noteSo 30 of these we will get9K in pocket * 30 =270K36 K Networth Increase * 30 = $1180000 Millionaires150* 30 = 4500 a month cashflow!

Jon a couple of months ago I ran into a short in a 180K neighborhood. 2 plasm televisions, surround sound in the main area, Jag in the garage, no carpet on the floor in the livingroom just OSB.Some peoples priorities are just out of line.

I had Signal Door Company come out to install my brand new $974.31 door on Sept 18.

Should I start with letters, or door to door?

My vision is to build a second single family home (with garage) on the back part of the lot...and then sell them individually retail via a realtor.