Hi there,I finally decided to make a profile and join; been lurking in the shadows for too long.

Then a few days before close, they sent a new "final" appraisal at $245K because they found out I had negotiated the price down before the appraiser even went out there..Amazing how the appraised price = the purchase price when you have a "good" appraiser!

That's why, to get to your point finally, I understand now that I really need to force him to sell and make it easy for him to pay me back (with interest).I thought that with the LLC in his name, all written up in legal language, would work out.

Finally, if they say yes what type of interest rate is good for this type of loan- 5-6%?

Finally locked in a rate for the first property, 1,850 condo - 3bed/2bath @ 101k 25%down for 15 year loan. 560 Principal and Interest.

This information is invaluable.I do agree with you the final decision to purchase needs to be based on actual costs and reasonable estimates.

Spent today finalizing trading up to a 37' Powerboat.

I've finally completed my move from GA to TX and now I'm looking to network and find some good people in the central Texas area.

We have all seen what happens when one gets caught-up in the hype.This is purely anecdotal, but I wonder if we could be seeing a return to the reckless investor mentality of the early 2000s...There is a house across from me that became an REO some time ago and sat on the market (I didn't make an offer because that would have been too close for comfort for me in terms of having tenants there).Finally I saw some people moving in there the other day.

The tenant was later and later and finally bugged out.