Now if I wanted to try for this building (apt buildings are supposed to be a later phase of this plan), I would write to her offering to assume the loan if she would carry a second.

I plan on using the money I save from my day job to get started in REI and switch to doing that full time in several years.As a RE Investor, I would have to say that I am at the end of the 'build up base knowledge' phase and am ready to move on to the 'first purchase' phase.

Stay out of the very best and very worst areas, and stick to middle ground.

I understand there are different phases of foreclosures.

Most don't have the credit, and can't pass the back ground checks.

While that's infinitely preferrable to working a 9-5 job, it did not provide the wealth for retirement that I wanted/needed.So, I worked like a dog, phasing down my other business while working to build my rental property business.

Let me propose this:Your 40%-50% costs are probably based on the fact that your 1.4M properties are 30-unit apt buildings with 30 bathrooms to remodel and an acre of grounds to maintain, etc.

I am still in the gathering information phase, and I am feverishly reading everything I can on these forums. :) Thanks again, and any help is greatly appreciated!

Wolesaler,I will PM you so we can see if there is some common ground to work together.John Corey

but a BIG factor in that is the market.the bottom line is that realtors (not all of them are created equal) do offer a very needed service and their compensation (commission) should be factored into any deal during the planning phase.