Consevatively we figured 50% for expenses which we know will most likely be much less so we should average 180-300 positive cash flow.

This might not seem like alot , but the average sale in my area is only about $120,000.

You'll do well in this industry.

You can question this but make sure they're explaining the whole process behind how our industry gets paid and why true "lender" discount points are sometimes required by the lender.I strongly recommend that you submit any loans and have them locked immediatley.

PLEASE point out any errors/misassumptions.Deal Information As It Was Given To Me:2 brick buildings24 units total Price $760,00022 2-bed rooms, average monthly rent = $5002 1-bed rooms, average monthly rent = $450Every unit has a seperate gas hot water tank + seperate gas heating furnacesAnnual Rent Income = $141,720 (Building would have to be at 99% occupancy for the past year?)

I think getting into the Real Estate industry is all about entrepreneurship.

Looking forward to getting some good advice and networking with some industry professionals.

In the past I've had various connections to people in the industry who could get me a name/password and I could log in to places that have property information and get profiles, plat maps, history, etc..Things seem to be tightening up due to the RE industry woes and I don't have that ability currently.

I have met once an enterprising young Japanese guy who has amassed a sizable fortune in rental apartment buildings, but certainly he was not the average and he worked extremely hard to get the financing while credit was loose.One source of cheaper houses are the government auctions.

The 50% rule is simply based on averages.