I did think the original posters situation was expensive for mentoring, but it is all relative to the potential profit,and the knowledge gained.

While this is one of your first topics, I've gained a tremendous amount of information from you already.

I would love to branch out and do more investing in other areas, but starting out, this is where my money has allowed me to invest, plus this is where I grew up.I am looking forward to gaining a lot of information on the site and networking with other investors.PS, if anyone has a property in Los Angeles, Southbay, LAX or Inglewood area that is pet friendly, preferably a house that they would like to rent please let me know.Thank you

Can't wait to start contributing more as I gain experience!

A borrower can request anything they want, but there is no duty by the mortgagee to fulfill the request or even pay attention to it.

At the end of the ten year period, instead of getting the income the property generates he gets payments on the $280k For my part, I get to keep any income created that exceeds the cash flow promised to my stepfather based on the income from last year, and I'm gaining equity through appreciation.

Simple calculation - average rental period for the area and "good tenant" profile (in our case, for instance, in Japan, its 4-5 years in the singles' units we like most), take 25% off that time for unexpected downturns (or more if your area is notoriously unstable), and work out the percentage 1/2 or 1 month rent income is of that period (in our case more like 1-2 months).I think, in the vast majority of cases, and particularly if you work out how many empty months bad screening or management can cost you, you'll see there's no doubt as to the financial gain potential a good PM or tenant placer can be worth.And that's without even taking into account the personal toll of time and resources spent when you do it all yourself...

More than likely, the asset managers at the largest banks in the country were B-School classmates with these guys and therefore have the inside track on all inventory coming online.The small, local investor will gain an advantage by focusing on customer service with homeowners, identifying a need and providing a solution.

In your case, given that you are new to this, I would recommend hiring a GC and then paying attention to how they do things, so you can get more comfortable with hiring specific subcontractors yourself if you choose to do so.

I got an ROTC scholarship out of High School and served for 4 years (while gaining valuable experience and great memories) in return for a full ride to college.