There are several good HML for CT.Will send you an email with questions so we can figure out which one may work for you.By the way, make sure you have a solid exit strategy as these loans are short term.

I will have to get a loan for the house, I won't have cash, well unless I get it for dirt cheap.I'm torn between the two plans, but I have time to figure it out while I learn as much as possible.I have gotten a lot of optimism in this forum, which will keep my fire burning.I would like to do some mock deals, practice if you will, and I'm not sure if I'm going about that the right way.I have a record of a bunch of homes under 100k, all foreclosures, and I'm scouting them and hoping to follow them through the sale and see if I was close to the sale price in my assessment.

Im unsure if he put any down.Its listed for 279,000. bt he has a realtorso I figure he was just trying to get his realtor fees & just wants to break even at this point.He showed the house to me , so no realtor involvement.He said his payment was almost 2500.

By these figures, the is NOI = 87,978, giving a cap rate of 11.5% buying at the listed price of $760,000.Now, I'm thinking these expenses are way too low, so now I'll plug in the 50% rule.Annual Rent Income = $141,720 Annual Expenses = $70,860NOI = $70,860At the listed purchase price of $760,000, this would be a cap rate of 9.3%.$70,860/12 months = $5905.00 NOI per month$760,000 @ 9% for 30 yrs = $6,115.13 monthly mortage paymentFor a NEGATIVE cash flow of $210.13 per month.So, shooting for $100 cashflow per unit, I would need to purchase at around $435,000.I pulled the 9% interest rate + 30 year term out of the air, so any corrections on the reality of such a mortgage are appreciated.Do my calculations look right?

When I pointed out the 20% down figure, it was not intended to imply that was the standard necessary on a commercail mortgage, only as an example.

Also, are those the sales figures for total sales in the area or just sales of those properties listed in the MLS.

You need to figure out what the property is worth to you based on your exit strategy.

I have not been able to figure out a way to leverage my CDs.

Of course you should verify all numbers prior to making an acutual offer (i.e. if you figured insurance to be $100 a month and it's really $200, your viability could go out the window.)

So, you really have to figure both the interest and the points.