Great deal on the house but the market for flip is bad, like everywhere.Paid $101k out of pocket to buy it (high down payment) got 5.65% 30 yr loan, monthly mortgage $1570.

Every time, I run in to such things, I always feel that I did not have that bad a past and try to learn out of your experiences than mine.

And I do agree with his previous statements that these banks and lenders shouldn't get a bailout with taxpayer money because they made bad decisions in the past.

That it doesn't sound like a bad deal at all.

The bad news is that there appears to be an endless supply of speculators with money.

When I first started out investing in real estate, I was quite fearful of getting involved in a "Bad Deal".

seems to me we suck down bad news for a while, close up our wallets and hibernate economically for a few years.

I was recently told that my current situation is bad...but was then promted to buy this person's book.

But I think this entire thing is kinda a result of bubbling with the government messing around with the tax system for political reasons... but regardless of the reason, i wasn't too certain about a full blown "depression" but that very well might happen depending on how badly the gov passed "financial rescue plans" for the mortgage crisis will go...

Help me see some of the bad points in accepting this money upfront.