Meaning, you are not building reserves for expected and unexpected repairs you may face as well as vacancies.

*Needs Repairs?

Crazy... or not.We are waiting to close on our first property - little house for $12k, putting $12 more in for repairs.

I'm trying to coordinate with the city and a contractor to get the necessary repairs done to remove the lien prior to selling BUT if that is not possible, do you know any bank that would loan on this property?

Are you close enough to manage/repair these houses?

What mike said.....You may not have any MONTHLY expenses, but surely you have Insurance & taxes you pay, those are expenses.In addition, you will also have exterior/interior repairs that are associated with property ownership.

A hard money lender will lend based on the repaired value rather than he purchase prices.

If I understand it right, the 203k would allow for him to finance the repairs and the mortgage payments during the repairs.

I just keep the money in a money market account at 2% interest then when my funds get to a certain amount I call my PM to see about repairs or if she knows of anyone selling a property, I then I take the rest of the funds to pay down the principle.

We NEED a President that will attempt to repair our international relations, NOT one that will be an iron fisted tyrant like BUSH!