I have a 1-year position in D.C. that pays $50,000.

u probably know this already, but it's best not to tell or give any personal information about your circumstances to the seller or buyer that may compromise your position, even if they seem friendly.

It can become tricky and probably illegal when you are using private funds for both the first and second... particularly if these private lenders don't fully understand (and believe me if everything goes south they will become the most uninformed people on earth) what the risk postures are of being in a first vs. a second position situation

Everyone listens to every conversation with one ear, waiting to hear how it will affect them, either negatively or positively.

If you can do a cash out re-fi and still have positive cash flow (even if it is only a little) you should probably do it.

I've seen investors who got started by buying a rehab living in it and fixing it up and then after 2 years selling it and doing it again.Looking through HUD's is a good idea, because as an owner occupant, your bid will take precedence over any investor's bids as long as yours is higher than the minimum acceptable offer.

I’m quite fed up with my position and would like to start my own company.So, I was thinking if I bought under an interest only loan that wouldn’t suck up all of my savings and my payments would be significantly less.

Let me give you an example on buying a house for full market value, with no money out of your pocket, picking up a quick $5k up front, some positive cash flow every month, and a nice payday on the back end.... plus where talking about dealing in NICE homes....NO junk properties!

The last one takes precedence whether it was filed a minute after the previous one or thirty days.

So, I think, that he is scared to be in that position again.