Start by getting a second job and working your butt off to pay your bills (current and past).

And another flip I've been watching got foreclosed on a second time because the flipper ran out of time and money.Mouschi, the questions you ask can only be answered by yourself after some very serious time and effort put forth into studying and learning.

Are you thinking about purchasing a second investment property in the hear future?

I have also dabbled in being a property locator for investors for flips or second homes.

I'm asking if anyone here makes loans that are Deeds of Trust, in other words they are written up that way...as Deeds of Trust....recorded at the county as such.In my mind when you are loaning private money in small amounts....the only way you can be protected from being in the second position (and ultimately thrown out if foreclosure occurs) to the 1st mortgage holder is to write it up as a Deed of Trust.

I am finally going have a positive cash flow this month and I am trying to save up for my second home with my brother.

When the closing took all of 10 seconds I decided this was a pretty sweet way to proceed.Since then I do all my flips buying for cash and then selling on "low down, owner will finance" deals that allow me to (occassionally) purchase off the MLS and sell the same day for a profit.

That is a second option, but I'm thinking the difference could be as much as $12,000.

> Management agreementHere is a good little tip...add a place for a SECOND contact person- outside of the owner's immediate family, that can authorize financial expenditures when the owner is unreachable.

Wholesaled 2 properties the first month and started my first rehab the second month.