Pre-approval means sharing your income and asset information in addition to your credit and having their underwriter review that info even though you don't yet have a home picked out.#3 - don't buy property with other people, especially friends, co-workers, etc.

If you are going to be a successful businessman then you need two things among others:1) the ability to plan out how you are going to conduct your business2) the financial discipline to manage and grow your assets while limiting your liabilities.In this particular business (real estate investing) our two biggest assets are our credit and our cash on hand (followed very closely by our own personal education/knowledge).

You will need either a bridge (if you intend to securtize it by using other assets as collateral) or a blanket (if you intend to purchase a pool of properties) loan.Fees and rates differ from lender to lender; you can expect:a.

Think about a 1031 exchange.A 1031 Exchange is a transaction under United States law which specifies that if an asset (usually some form of real estate such as land or a building) is sold and the proceeds of the sale are then reinvested in an asset of a similar kind (like kind asset), then no capital gain or loss is recognized, allowing the deferment of capital gains taxes that would otherwise have been due on the first sale.

You can do a no-doc loan called a NINA (No Income No Asset).

How do you go about getting intially signed up with asset managers.

I have insurance on all of them of course -- but I'm wondering if I should be looking into putting them under a corporation - so that if I got sued or something not all of my assets would be vulnerable.I'm not sure ... just asking -- please tell me your opnions!!

I'm sure you'll be a great asset to everyone with all of your knowledge and experience.

Andrew, your lawyer was talking about a cost segregation study.It involves identify and separating short life assets from your new property basis and depreciating them separately, thus accelerating depreciation.For example, you can depreciate a 200k property over 27.5 years, ORUsing cost segregation, you determine that you have 20k in 5-year assets within the home(carpet, fridge, AC, etc...)You can depreciate the 20k in assets over the next 5 years and depreciate the 180k for the property over 27.5.

They told me the listed price and gave me contact info to submit the contract directly before the asset was placed on the market.