I am a 51 year old educator from southern New Jersey, with a desire in becoming successful in REI, enough so to leave my current position in 4-5 years.On the advice of some of the forum "posters", I have read the "Rich Dad" series, and am looking to acquire one of the Carelton Sheets "No Down Payment" study guides, as well as continue to explore this site.

He upstreams his positive cash to a LLLP, I didn't even know they existed till he showed me his docs.

Originally posted by "noobdog1":TOTALLY SEPERATE your goals for personal purchase from investment purchase.I understand what you are saying, and if I felt I were in the position to do so, I would.

It would take 3 or 4 years of heavy payments on that 2nd before it was gone and I started seeing positive cashflow off the rental.If I had $20k in cash laying around to use as a DP on the new house, this would be pretty easy.

I have been throwing this around for a while now and just don't know the answer.If you could purchase a home, even at 100% financing, and it would give you positive cash flow, money up front, money on the back end, and you did not have to do anything.

This recession will only be around for maybe another two to four years conservatively, which means you want to be owning the property outright rather than vying for 'first positions'.

I have always worked in professional type positions - banking, consulting, selling - and dress relatively formally.

And do not just say "real estate investor" be absolutely positively sure to say " multi millionaire...".

Would it be worth anything to me (in terms of strategy or legal position) to try to purchase the second lien at a discount?

I'd love for a foreign entity to have 1st lien position on my property.