There are so many ways to make money in real estate, why gamble with the ways that you could lose it all with.Michael, birddogging or referring properties to an investor does violate real estate licensing laws which dictate that you must have a license to earn a fee for buying or selling a property for someone else.

And even if you find a private/HML that won't care about what kind of reserves you have, it's still a very good idea to have the extra money at hand.

I now have back my initial cash investment of $20,000 plus a little extra.

right now I am looking into buying and renting for starters. i work fulltime in IT, but why not make extra cash:) then eventually I would like to rehab and sell.

It's the buyer's where they are borrowing enough in the loan to cover (eg. up to 3% of their closing costs)\The sales price is increased on the contract to allow this but then when you balance out those extra (buyers) closing costs may not fit the allowed transaction.

After much reading and research, I choose this type of investment for several reasons, not the least of which being it is what I can best afford; vacancies shouldn't be a big problem since its a high rental area; its a low income area, so if I find a sound building, I won't need to spend a lot on improvements to attract tenants (since the tenants wouldn't be able to afford to pay for those rental extras anyway).I'm doing the deal with "no money down-ish" by tapping the equity in my personal residence (HELOC, rate is prime, no margin, 15 year term) for the down payment, and financing the rest at 90% with a conventional 30 yr, 7.75%.

I placed the extra plywood under all of the cabinets for consitancy.

The rest of my family works for "the man" and earns that paycheck every week and have no idea what family really is.

If your ever Interested in earning Mortgages commissions on your dealsjust let me know.

Remember, notes are sold every day in bundles of multiple millions of dollars, they are a standard financial instrument, just like government and corporate notes and bonds.The money comes when you buy a note at a DISCOUNT sufficient enough to earn you an ABOVE MARKET RETURN.