I owned a bar with an apartment in the Dominican Republic when I went to college and It was so frustrating to be so far away and have to rely on local boots on the ground to relay data (in fact the manager spent all my cash for the project on a gambling Christmas cocaine party, ended up in jail and my boat got stolen by some Haitians trying to migrate to Florida but thats a whole different story).

Look forward to your comments and hearing about your RE adventures.

It seems to me that prices are at that level in some areas.Initially, I don't mind using some of my own money, but eventually I want to attract investors for profit sharing.My goal is to generate a cash flow of $15,000 per month in the next 5 years.I am hoping that the expertize self-evident on this website and in these forums can serve as a general mentor to me as I embark on this very exciting adventure.

The deal was up 70% in 2 years which was a great 35% ROI a year but I think the GP wanted to gamble and go for the 120% in four years which people can argue if it was the right choice in this sellers market.

Unless you know exactly when the next dip in the market will be you could be attempting to gamble on that and lose if nothing happens for awhile.

It's a real trick to find a property that aligns perfectly with an investor's goals...that's what I've been discovering as we embark on this adventure!

Like many I've read about already, REI was something I never payed attention to throughout life other than thinking "other people did it" and it didn't hold an interest to me.After catching a Clayton Morris podcast about 2 months ago and then reading Rich Dad Poor Dad, I've become hooked and driven to dive into this new adventure in life.I've been in computers/IT/Technology since 1984, worked at a few companies, ran my own consulting business for 7 years and then re-joined the full time workforce for a client.  

I love my city and I believe that we can be sucessful at this new adventure.

Good luck in your REI adventures. 

Sure the Realtor may be a liaison between the two parties and they may interact but in no way shape or form do the two work for one another....Appraisers in this environment seem to error on the side of caution based on what happened in the past it seems...As a result unique properties end up suffering because the value isn't in black and white and the appraisers aren't as creative/adventurous as they once were in a different era..Good luck but I agree with the majority, if you still have a healthy profit go for it as if you roll the dice the appraisal may even come in lower next time..best,Chris