:roll: As I am in business to earn a conservative profit to compensate me for the risk in this difficult market, I must also consider the costs for acquiring, carrying, repairing, marketing, which total about [insert your cost calculations here], and eventually selling the property.

Our conservative estimate is a stabilized fee simple value of $450-500k.The borrower ceased payment in sept '10 and a foreclosure commenced April '11.

I have been in the real estate business for a few years but have recently rolled up my properties into an llc and set up a separate llc bank account in order to protect myself from a liability standpoint.

3) Would your example change if the points and interest are rolled into the loan and all paid in full at the end?

rich23s, Home Depot sells a product, it comes in a roll, its orange in color, its flexable plastic, it has little squares imbossed in it.....Sorry I cant rmember the name, but its in the tile and flooring area, ITS slick, put your floor prep down, lay the orange membrane over that, let it cure, come back tomorrow, lay mastic and lay tile.

They tend to cause you to roll about and end up places you did not expect.

And everyone rolls the ball saying this person owns, this one owns and yet no one has proven ownership?

I actually just bought my home at a mortgage of $142k which included down payment and closing costs rolled into it (so the home actually sold for $136 I think???).

Even if you work with a lender whose guildlines allow for no money down, all costs rolled into the loan, etc; that does not mean that its ok for you as a businessman to have nothing in savings or reserves on which to run your business.

A little more of my hisstoory :roll: :mrgreen: When I first started tithing, when my youngest was still in a backpack, we'd take the tithe every Friday to the place I had been led to, so they got early training.