In my low income apartments, I have a core group (probably 1/3) of tenants that have been there for a long time (one tenant has been in the Pink Elephant for over 25 years - much longer than I have owned the building).

My thought is that if the property is owned by a bank that won a court auction for the peoperty, have they listed it at a bare minimum price already?

One of the pieces I use is a pink hand written envelope, addressed to the man.

dude there are plenty of houses out there with good equity...some people cant afford there mortgages anymore but they are still current on there payments barely.....subject 2- wholesale.....but short sales are right now if you know how to close them correctly.

Bare with me im typing with one hand..As you guys know I got injured in a work accident, I'm now recovering and off work for definatly one month..

yes your right i was talking to my girlfriend after i put the post. and i realized i will need a side income to make this work. i have been doing some research on this site lol about five hours worth on my first night. and i realized in new york a good way to start would be with a section 8 place. and i am also going to buy the section 8 bible asap. i realize this is gonna be hard and take up alot of my time and money. but i feel in the end it will be worth it. i just dont wanna end up like my folks almost 50 nothing in the bank and just barely making it. i want the better life and im willing to bust my butt in this industry trying to make it work. like my friend always said scared money dont make no money lol. appreciate the reply hope to have some success stories in the future to post about.

They've sold the properties and the investors are stuck holding the bag.Most of these are, IMHO, barely above scams.

Pretty common for units of that age, but a big expense.Even their claimed NOI of $61,786 barely covers debt service.

Keep doing this until your at a bare minimum your credit cards, are paid off.  

Not sure if I want to laugh since that was pretty funny or cry because it is barely an exaggeration...