4) Do more marketing to hit and exceed my 2008 goals. ...knowing what you now know you would have done different in 2007...See new 2008 goals above!

Payed 15k for the place, but put alot into it.Anyway..He is asking 199k, which I am not going to pay.Rents would be 650,650,725, and 150 for the garage total of $2175I figure expenses at yearly: heat 4000,my electric 1500, sewer trash water 2500, other expense approx 1500. total of $5540Taxes are $3988 year.

Foreclosures have hit recent record numbers and with 10.2% unemployment most experts agree there is shadow inventory building with the banks.

School Loan (US DEPT of EDUC) - $50K - paying $500 a month (basically onl 1/3 of the payment actually hitting principal :cry: ).

She hit the roof and let me know how mad she was at me for buying it anyway after she told me she didn't want to spend the money on it.Today, she loves the property and when it comes up in conversation she refers to it as "ours".

Purely, due to the fact that the REO is now a liability. 90+ days plus should be a starting point.Private lenders, pre-foreclosures(use for identifying property, make reserve bid never know may get it, most auction properties go back to banks anyway) and auction liquidating brokerages(most effective when looking for multiple properties).Right now there's a huge inventory of REO's new one's hit the market everyday may be a venue worth for you to pursue

Just for argument sake, let's look at this deal:NOI: $10,707 per monthMortgage ($1,500,000, 30 yr, 7.5%) $10,500Cash flow: $207 per month or $7.39 per unit per monthSo if the price dropped from $1.5m to $1.4m then $917 per month $32.75 cash flow.To hit the $100 per unit mark the price would have to be dropped almost $400k.

Property: 3,082 sq ft2 story, 5/2.5Built 2006-purchased 12/2006 for $375KOwe $355KPayment with T & I = $2500/monthLoan = 30 yr conv. fixed @ 5.6%Non-assumable, No prepayment penalty 16x 16 tile downstairs, carpet upstairs, gas heat, both gas and electric stove in kitchen, gas BBQ in backyard, 3 car garage with RV gate.Comps:$325-345 Sub2 because the loan is a good rate?

Some states have high annual fees per LLC so you are taking a significant hit.

Cheyne,If you do reply, just hit "Post Reply" to add on a new posting like this.