I have gotten close on a few deals but today I closed on a deal and finally hit that goal of mine.

We currently have $100k equity in an up and coming part of town (read fast growth, but still sketchy) where my wife and I live with our 1 year old daughter. 

I'm a newbie currently in NYC, but looking to relocate for both a change of pace and more beginner friendly real estate opportunities (looking at Dallas).

Rehab bid just came in today 255k, arv 400k.we ar thinking even if we do not get the claim., i believe we are still on the upside.

Day to day, I work as the Marketing Exec for Victorious Lone Star Realty Corporation. 

I thought this year was last year for HAMP incentive to end, found out today it wasn't.

Make sure you collect all owner types, not just LLCs or vacant homes etc (you are not looking for a property in distress, you are looking for an owner who wants to cash out today - they don't own a vacant house - they live in that target property).

Fast forward a bit, we meet, we talk (him and his wife), we tour, we get to know each other better (investor experience, and personally).

Every income property has two separate income streams, one generated by the property the other by your cash/ equity.Buying cash flow today costs twice as much as the prevailing mortgage interest rates based on the opportunity value of money to investors. 

So when someone thinks they have a net worth of X and its all based on 25% equity at todays values unless its prime markets.. like SF bay area Seattle NY  Charleston LA  etc etc I see that as no equity personally.. when you own a note you have 100% equity as long as your buying your notes at less than 70% LTV with good performing borrowers which is what we do.