Of course, that's exactly why the vast majority of newbies fail in a short period of time.

The bank is not going to allow two escrows as you describe.I would suspect there is a missing piece here somewhere, like a cancellation notice.Did your buyer fail to meet any contingencies?

Any major university with a real estate program is going to give you a solid foundation, particularly in the area of real estate finance, where most other people seem to fail.

The "gurus" like to talk about income - not expenses; and failing to understand this issue is the NUMBER ONE REASON NEWBIES FAIL!

Be prepared that if you do get the offer accepted and fail to find a buyer and back out of the contract, you will damage your relationship with the Realtor as well.

It's good that you got your failed business out of the way.

Lenders are much more likely to work with you on failing loans to date.

i have obligations to people and it's not that i'm afraid of failing (i've experienced that plenty in my short 30 yrs) but how can i know... i'm not looking to up and quit my job, that's just ludicrous as far as im concerned... i'm more worried about getting in too deep too fast and having to not only work my full time but work full time on a side project.i am very interested in getting into rentals both res. and com but i've been told not to just jump into it, then i read books that say the best way to learn is to suit up and jump in :roll: i should probably be posting this in the psychology forum instead huh :lol: well thats all that i have to say about that... if you're still reading... well thanks for giving me a minute to vent my thoughts to you...

I submitted the information you supplied from the Officer of the Governor and his comments are as follows: "Using unemployment income in the amount of 1148.33 the mod fails FDIC model.

One of the furnaces had failed, and there were smoke trails leading out of the vents.