Certainly, there are those prospects with NO credit history, but in many circumstances, that is a positive indicator.

Stay positive!

So if 8% (Bad Times), we are still getting a positive cashflow, let alone the good times right?

The numbers look like this: Property price: $47,000 (our offer) # of units: 5 Monthly Rent: $1,900 Expenses (assuming 50% rule): $950 Down Payment: $10,000 Monthly Debt Service: $287 (20 years at 7%) Monthly Cash Flow: positive $663 ($130/unit)I've had the place inspected and it will take some money to fix it up.

Even if they're warped from being in an uneven position they can have new joists nailed next to them to even out the floor.

Most area's are very difficult to have positive cashflow, unless you are putting a large percentage down.

You need to know how much income you absolutely, positively need to make.

We saw that as a positive as they were mostly homeowners who were proud to see the long empty building purchased and fixed up.

his last year has been almost all shorts.i see it that these banks need to consider themselves in a position of ZERO, and any money they get back above and beyond that is recapturing lost money.

Actually you can own more but if you have 10 mortgages reporting to your credit, that's the kicker.I advise my clients to do a couple of things here. 1) if you have a 30% equity position, refinance into an LLC loan.