Nation-You paid 1/3 upfront as in several days before start upon contract signing, or upfront as in when work started.It just seemed odd to pay 1/3 when the contract was signed several days beforehand, the tear off involves little to no materials, just a dumpster rental.

The area can support rents (in a comparable property) of 850-1000$/mo + utils.

HAS ANYONE UTILIZED A LETTER OF CREDIT TO PURCHASE REALESTATE?

My name is Katrise, I am a real estate investor currently in the Baltimore MD area, I focus on Short Sales, Wholesaling and other profitable facets of real estate, I also help other like minded investors get educated on the many different ways so utilize this "bad market" in order to make them the most profit.

I have had a tremendous wholesaling business utilizing the Detroit market the past 6 months.

To utilize cap rates in your favor, you have to really understand cap rates and the market in which you wish to invest.

If you have no revolving debt you need to add a credit card or two, but if you have a few adding more probably won't help your score alot other than by lowering your utilization, the total percentage of available credit being used.

Mike, Turning one property into a loser to buy another that will have a positive cash flow doesn't make any sense yes, but keeping in mind that an investors goal is to grow their portfolio, The equity base in one piece of property (the 200k ARV) could in fact give him the power to leverage more properties that have higher individual NOI's, utilizing that properties equity base makes it a winner, not a loser.

Another question is whether you pay any of the utilities.

I think what may be missing from public records, title companies and such are APIs developers can utilize to build the mash up.