I haven't been able to buy a property yet because of i'm tied up in a property back east (damn condos), but once I do, I plan on buying a multi-family to start, living in one unit and renting the others.

And I kept reading the word Wall Street in the article and doing so gave me an image of those old villains with long staches and top hats that always tied up the damsel in distress.

Unless you're investing in a large lifestyle center or mall, you won't have the community aspect and your success is going to be directly tied to the sales of your retailers, nothing else.

I had him tie them up with options, cost him $2 for the option fee. and then he would sell his option to a rehabber for 10% of the gross profits.

Most my money is tied up with the fully paid triplex and it's in an LLC.

Also, in step 3 c) the "Once you acquire the property, you immediately refi the short-term mortgage into a conventional loan..." you are still subject to conventional lending and seasoning restrictions... so your $50K is still tied up like it would be if you just acquired directly with the cash.

Someone remind me;"Mitch, why do you stay so closely tied to your local note buyer?"

buying property with a partner who i was emotionally tied to, then she needed to occupy the property. getting money from her became a task like pulling teeth. needless to say she hardly ever paid. so in the between times of us not having tenants i paid the full balance of the mortgage. on top of all else our relationship began to sour and work needed to be done on the property but i didn't want to be around her so i was reluctant to do what i needed to do to make the deal work. point is; no more emotional partnerships. they do more damage than good. and someone is going to lose!

Since the price of inspections are pretty much tied to the size of houses, inspections for expensive houses represent a smaller percentage than for cheaper houses.

Although each deal is unique, I've been starting to demand a personal guarantees tied to costs that go above and beyond "value adders"