I have good credit (750+ fico) but not enough extra income to support rehabbing and paying rent.

He pointed out that those guys made much less than I did and that if I hired a roofing contractor their employees made less than me.I pointed out that while those guys earned less individually they would have 6-10 of them on the roof which probably added up to what I earned and that I had NEVER seen a "roofer" install a roof correctly.

tell them that you need that extra 10% at close in order to do improvements and reno's to the property.

thx>>It's really better to buy things directly from the county because you do not have extra fees added to the ownership of the lien.

That said, as I write this I have an electrician in my kitchen, moving circuits and switches mainly (it was a poor design), when he's gone I'll actually install the recessed light cans, then texture and paint.Remember, if you're paying a "tradesman" $50/hour (cheap in most parts of the country) you have to "earn" about $85 to net the $50!

Even though I made (and still make) good money in my profession (information technologies), I never had *any* extra money, always blowing it on hobbies, car payments, etc.

thanks - I am in the process of closing on a house and soon to get started on showing the house to the public for renting, soon I hope to earn a good income on the house more updates to come soon

That includes extra taxes from losing my homestead.

It's an owner-occupied (I live alone) two-family, and the second unit essentially helps to offset the mortgage rather than earn money.My background is in Finance, but not specifically real estate per se.

And then I started saying "I am going to earn $10,000 by December of 2000".