The aggregate amount of IRA distributions taken by an IRA owner that may be treated as qualified first-time homebuyer distributions cannot exceed a lifetime limit of $10,000.A first-time homebuyer is an individual (and, if married, the individual’s spouse) that had no present ownership interest in a principal residence during the two-year period ending on the date of acquisition of the principal residence (IRC Sec. 72(t)(8)(D)(i)(I)).

It is based on the =PMT() function (and other related functions in Excel).The fields that go in the function are=PMT(rate,nper,pv)where:rate is the rate of return per period  (interest rate- be careful if it is an annual interest rate to divide by 12 to get monthly rate)nper is the number of periods (usually months)PV is the present value of the loan (amount you are financing)so for example if you are borrowing $100,000 at 5% annual interest for 30 years, you'd calculate your monthly payment as =PMT(5%/12,30*12,100000)You can do separate calculations for your investors on the down payment vs. the overall mortgage.

Recently I was presented with a contract asking for seller concessions, but they also received a Home in 5 Grant which paid them to "purchase" the home.Now if all this isn't generous enough, the FHA began cutting the PMI rates.

Hi Mike,I own real estate on Long Island and Freeport.It's pretty hard pulling comps and it works differently in the Bahamas IMO.A good attorney will help you with legals and market research will allow you to understand value in a good deal once it presents itself.Thanks

Otherwise, I would tend to make any decisions on the present and be sure that I make all calculations carefully.  

Either way, I'll be at the Palmer Events Center tomorrow for the consultant presentation on the subject to see if I can learn anything new.

But you're still going to have to do a research on the property's comps whenever you present an offer to the seller, so all you're doing is sending mailers to homes that are in your ballpark. 

I did a duplex ( new construction ) in Vancouver Washington in 05.. 22 of them and I set my fee at 30k per duplex.. the builder was happy to pay it as I sold them all literally in one weekend in San Fran.. but I spent 35k getting 300 people to a big room to listen to me present this opportunity. and on low value assets IE homes that sell under 100k  I see it very common to have fixed commission by dollar not percent on these deals. 

Though I'm no expert the logic presented above does not ring true to my gut feeling and on the ground observations, but I could be wrong ...

Hi BP Peeps,I've been asked by a local group to give a presentation on "Finding Money" to invest in RE and I'm looking for some more ideas/input.