I reveal there how I lost a 30+ unit building to foreclosure so you will know what NOT to do when acquiring a property.

I'm 50 years old, lost my job, have some savings, but I'm tired of working for someone else.

Realtor broker just called and said I lost the house because HUD did not receive the certified check in time. 

I recently lost a B&F round for the exact same reason...another buyer was willing to put up $500K hard and I wasn't.I've done the hard money day one myself.

Who died, went to a nursing home, got a promotion, lost a job, who wants to retire, is getting married, is having a baby, new to the area, lost a law suit, going bankrupt,  had a vehicle repo, has a code violation, does a contractor have a lien on any property, any child support liens, you get the picture.

We have property damage and 1M liability (may be 2 million now not sure we may have increased it) with CBIZ We have 4 policies, rates range from $850/yr ($85K property) to $1700/yr ($300K property)Covers INCOME LOST due to fire or other damage for up to 2 years of proven income PLUS the replacement cost of building.

So for these exchanges the rule of thumb is to trade up in value, not down, to avoid getting taxed on boot.Now having said that, the IRS has lost some court cases where a refinance was unrelated to the exchange itself.

In return, you will give a $500 referral fee for that information if you close on the deal.People would have paid at least $199 for a weekend seminar and lost 2 days of their life for that 30seconds of valuable information.  

Is it lost? 

This is where I get a little lost, because I don't like surprises.