This calculation, and Mikes, I believe, assume 100% financing.Whoever is giving you that response (bet they're selling the property, or otherwise involved) is missing the true expenses.

This is a bad thing, but love is a strong bond and I am betting that there may be a chance that her and your family may be able to pull together, find him and get an understanding of what happened and help him.

You think it will be expensive, you bet it will be, the broker has a liability in your deal now, until it's fully paid!

So I am making a bet that property acquisition will pay off not only due to monthly rental revenue, but also longterm appreciation.Aside from that I think we would agree that when there are too many buyers, it's not a good time to find the best deals.

Interest rates will be a bit higher too. 8% is possible if you have spotless credit and a good cash reserve.Local banks are now your best bet for commercial loans, I called a broker about doing a cash-out on one of my properties and he informed me that the open market now wants to see 12 months seasoning.

Best bet is to Google REO or REO Asset managers and see what you get.

In case anyone missed it, credit union, credit union.If the rental property is rented, the rent can be applied @75% to help Your dti ratio, but I haven't seen that help lower the down stroke.Your best bet is to shop with out credit pulls, make face to face appointments, sit in the hot seat and follow some of Jimmy Moncrief's podcast suggestions, even though they are about commercial lending, His advice is solid.John

Try searching "Texas, Options" you'll find some information I'd bet. :)

Jerry;Nice idea...i actually do something similar with the tax redemption notices in Ga.I look the properties up from the sale lists and reference them against county records online, it really doesn't take that long.For me, the foreclosure thing wouldn't be a ongoing thing, maybe a few months, i was just curious to see what the properties in these particular counties were going for vs. being sold off MLS listings, and i'm betting the difference is huge.If one has inside knowledge of the property from prior owner, neighbors, etc, it would be a way to get great discounts.

Also in the rust belt where jobs and city growth are minimal. around toledo college is your best bet.