:help: I am filling out a contract...and assignment contract, for a property, I'm down to the part where it says
hereby assigns all rights to said contract to:
person's name
("Assignee")
in exchange for compensatio...

I dont know the balance on the note or the monthly payments but it was rented for 1500. so I am assuming he isnt a total bone head and made some $$ on the rent so it has to be lower than 1500.00.

.- (If possible in your market) Try to buy a building where your total rents will be more than 133% of the PITI payments for the mortgage.

I also plan to spend approximately 5k in repairs so I guess the total cost to me is 162k.I didn't get into the specifics of the property detail because I'm not sure if it matters what type of property it is.

I have 2 rental properties so investing isn't totally foreign to me but I still consider myself quite new.

I think my total loss has been 30K, not to mention the 6K a month I was clearing before hiring them.I consider it my masters degree in real estate.

Thanks Wes, I will keep looking out.Can you suggest a forum where I can get more knowledge on what to look in a property,where to look(besides the MLS) and how to calculate numbers to make sure it is a feasible buy.I am a total rookie to this and would like to be 200% sure before I make my first step.

you need to submit a request to the condo association so they can approve it. maybe this is basic knowledge but for me, being a total newb, i had no clue!

Certain others may not care and could make a total disaster of your work and money.I would highly suggest talking with a property manager in your area who deals with tenants in those types of properties to avoid shooting yourself in the foot.

I dont know if this was of topic but i know there are some pretty heavy investors on here and I would like to hear how many people have.I'll start first I have a total of 4 units Mikey-