Can't wait to start contributing more as I gain experience!

Not sure.(2) Dave purchased and sold the asset for a $1,450 (42%) gross gain on sale.

At the end of the ten year period, instead of getting the income the property generates he gets payments on the $280k For my part, I get to keep any income created that exceeds the cash flow promised to my stepfather based on the income from last year, and I'm gaining equity through appreciation.

There are many valuable trades.

Simple calculation - average rental period for the area and "good tenant" profile (in our case, for instance, in Japan, its 4-5 years in the singles' units we like most), take 25% off that time for unexpected downturns (or more if your area is notoriously unstable), and work out the percentage 1/2 or 1 month rent income is of that period (in our case more like 1-2 months).I think, in the vast majority of cases, and particularly if you work out how many empty months bad screening or management can cost you, you'll see there's no doubt as to the financial gain potential a good PM or tenant placer can be worth.And that's without even taking into account the personal toll of time and resources spent when you do it all yourself...

More than likely, the asset managers at the largest banks in the country were B-School classmates with these guys and therefore have the inside track on all inventory coming online.The small, local investor will gain an advantage by focusing on customer service with homeowners, identifying a need and providing a solution.

Yes I am sure one can pick up valuable, accounting, financial and economic knowledge in college, but I am unsure if it is worth the cost of tuition.

I am leaning towards pulling back buying for a moment as I spend more time gaining market knowledge because of this fact.Great negotiating tips as well, I've worked in sales a bit but will add this to my toolbox.

Hi Rob and welcome.I am not a rehabber but look at J Scott, James Vermilion, Will Barnard and a few others on here that focus on it heavily.They can give you a ton of valuable info on rehabs.

So the first step was to gain possession of the property.