At 3.5% amortized over 40 years, even if you're in the property with no skin (100% financed) you're looking at P&I of $1000/month...I can't imagine the taxes amounting to $8400/year on a $150K property.Sounds like some math homework is in order or you're leaving something out.

By keeping active you will eventually find your niche in real estate.I like the saying "there are many ways ti skin a cat" lolSame goes for making money in real estate.Also, don't get discouraged if you loose $$$.

I have tough skin, so don't take it easy on me!

Note, LTV is just the difference of what they want as a down payment or kept in the loan as equity (your skin in the game).

Originally posted by Account Closed:I dont like it. the best way to lose a million dollars is have some newbie go flipping houses on your (friends BIL) dime.Money-less people thinks its EZ to make money with other peoples money without skin in the game.  

Almost all lenders will expect skin in the game.

Do I need to have him put in 10% or so to have "skin in the game"?  

I think I could sell the building for top dollar right now (1 - 1.2 million)  I am currently learning about multi-family and want to purchase a sizable property with OPM as well as using the equity from my building so I have plenty of skin in the game. 

My plan was to use the $100k as my portion of "skin in the game" and work with either a portfolio or hard money lender for the rest.

HML want some skin in the game or serious equity in the deal.