I am 25 and only began investing in real estate 2 years ago (although I have been going to seminars and reading books since the age of 17, it was just taking that first step that took a while).From an academic point of view, I am a grad of UC Santa Barbara with a major in communication and minor in Entrepreneurial studies.

Reading a ton and soaking up knowledge while I also study for my real estate exam.

.(*) PM me or post the book and page in Wake registry to prove you are right. (*2) See also http://www.biggerpockets.com/forums/51/topics/1669...

Build in a fudge factor to protect yourself if the data proves to be incorrect or the market changes.

Conversely, if you are purchasing a property for 200,000.00 and the appraisal comes back at 180,000.00, the bank is still only going to lend you 144,000.00 (making for an LTV of 72%) and you will need to come-up with the balance.Of course, if the delta between the sales price and appraised value is too large, many lenders will elect not to fund at all or, at the very least, will have many more hoops through which you need jump to prove the deal is fair.

This is usually a very high burden to prove.

Spend your free time getting 2-3 of those established while still at the day job (So you can finance the costs you mentioned with the paycheck) and once you prove you can get those revenue streams going I would seriously consider dropping the JOB since you would have already replaced that income.

Then I would conduct a lien search, find out the current market value of the property (of course) and then do some studying on the foreclosure process.I am not sure of this County but the foreclosure process can be tricky.

As the few of those that saw the crash in 2008 coming, no one believed them until it was too late, no one will agree with me here but time will prove all things.

Here, there is an older Indian couple and a few other regulars who seem to just buy up everything.I go even when I'm not buying just to study their habits and drink the horrid courthouse coffee.