So in efforts to increase my sphere of influence I'd thought that I'd start one.

The mortgage is personal property, an asset and the value of the property, while it changes the risks being under collateralized, does not mean the value of the note is reduced at the same or even nearly at the same rate of the property devaluation.It's my understanding that the ED is on the property held by the lenders, or in the process adding to such inventory.I don't think this is going to fly, if it does it will be very politically influenced, imo, as I have never heard of any similar cases.

The trouble I have with HOAs is they are ran by a board of volunteers that lack the experience and knowledge to take on that kind of responsibility most of that time and if there is a Managment company they can get stuck following the boards lead.I do own condos (early on purchases)and try to stay active on the board to make sure I have a controlling stake on changes and influence on the way the property is being steered.Your in Buffalo Grove with the proximity to areas like Grayslake, lake Zurich, & round Lake where there are plenty of single family deals getting better rents for the same cost of a condo and maybe even a lower price.

I'd not say it's a bad idea to be there, on the contrary.Yes, more laws, you can't be seen as attempting to influence an appraiser, so watch what you say and how you say it.

And that after I buy it will be my primary residence with a mortgage cheaper than my current rent.I'd like to get ideas on how to turn it into a boost for my other and/or future investments.Thanks.

The first question I would ask you is what are you bringing to your sphere of influence right now that would make them want to do business with you, other than the fact that you are friends?

In your wife's case, she was trying to pay down her student loan debt (Dave Ramsy Style) but once you had an influence on her financials you dropped it to the minimum payment so that you could drop the DTI to make your combined financial picture look more appealing to lenders.

“How to win friends and influence people”, “four hour work week”, “the e-myth”, etc.

So first of all, you definitely got to get the spinning of the plate with your influence, your circle of influence which will be starting from your relatives, your family, and then you say some of them might be more open to others in investing with me; as you get more and more knowledge you want to put together some Power Point presentation.

Hi Andrew, I didn't know we had any appraisers on here.As you know, it's vaguely naughty for me to talk to appraisers IRL because of the concern that I will attempt to influence appraised value of something.I do have a question that's been itching my brain, if you wouldn't mind.It struck me not too long ago that the appraisal fee is the same here in the high cost of living Bay Area as it is in dirt poor rural California (in most cases).