And maybe it was, but I've been quite fortunate ever since.

It has taken me quite a bit of time to find a project that is worthwhile but patience (i.e. studying the market/networking/biggerpockets) has allowed me find out what a true "deal" really is for what I am trying to achieve.I am an investor in your area and feel free to PM me if you want to talk.

Can you sell a property with a 50k mortgage for 1,000$ dollars and not satisfy the mortgage just quit claim it to a new buyer?

AJ- I just read a book that had that exact formula in it and the number were quite mind-blowing.

We served them with a 2 day pay or quit last week.

At some point, I just want to quit and tell these banks that I hope all their foreclosures go down the toilet in price.Its amazing that the banks sit there and say that there is no loan demand out there.

Okay did a wrap with a seller.Added as a additional beneficiary on the policy.Policy comes up in March.Insurance company was fine putting me as an additional insured but then the owner of the company calls the seller a few months after closing and said his employee never should have told her that.She doesn't have any written communication or a recorded call from the employee saying it was okay just the phone call before the closing happened.Now the owner of the insurance company says he wants to see the seller back on title before he will renew the policy.I mentioned I could add her as additional insured and she said the lender would be required to have her as primary.She is freaking out about the insurance issue and thinks the lender will call the loan.She wants a quit claim back to her and an agreement form her attorney that I manage it but still own it and I can buy her out at a later date.I told her I would not agree to this.We have completed substantial improvements to the property and have gotten out the bad element.What I have come up with I believe will shed light on her true intentions.I am thinking of creating a Joint Venture partnership or something similar where she is given 5% non-controlling interest in the property.This would add her back on title and then the insurance should not be an issue to renew.I am checking with an attorney on this now.Want to get thoughts on this issue.

I am also very good at organizing things-plus I have lots of time to devote since I recently quit my job at Chase!

The answer should really depend on your age and how easily you can generate cash from activities external to your real estate business.

This enabled me to save quite a bit of money for the next investment which ended up being my primary residence at the time which was a 2 family so that tenant ended up paying 3/4 of my Mtg on that house.Having other people's money work for you can be a great way to build a bankroll and or free up capital for you to invest elsewhere!