I just gotta know enough to pass the test regarding these topics.

We did a test recently and sent out a regular headline to our list.

So I reviewed the test that I failed today.

I have been thinking of starting up a investment company of my own.My strategy would be much different than others.I would simply want to do a land fund.I would go after commercial land that banks are selling for a very,very low basis.I already see these deals.These corners when the market comes back in about 2 to 3 years I can get a 200k to 400k for and buy for about 50k now.I would locate the properties and do the due diligence and then split the profits 50/50 when sold.Usually the properties have a dumpy little house to rent out to cover the property taxes and other costs to break even.You don't have the headache or risk of a rehab but you do have a longer holding time.Investors like land because if they are busy with their lives or other business it's not as intensive as cash flow properties.Anyways I am toying around with this idea.I have some money of my own and when I run out want to have partners to keep buying up more land.I am talking corner parcels already graded and cleared with utilities ready to dump cheap by the banks.

His voice sounded very intense and motivated to me so I'll call him tomorrow and see how I can help him.

We went through a near catastrophic financial hurricane in late 2007 that strenghtened to gale force intensity in 2008.

The invaluable information that they provide should be carefully digested as it comes from the ultimate litmus test - experience.Those of us who are still to roll out a business plan have the theoretical components in place but require focus.

I was more just testing the waters to see if I could get a discussion going as there are so many bright bp minds here who can figure out a loophole to most anything it seems like.Ha, so does this mean you wont tell me what you do until I call up an attorney of my own?

Purchasing re is much more TIME intensive though, dealing with people , contracts, contractors, renters,etc.

So when we buy an REO from a bank, that's going to meet the tests of the FMV, when we meet some guy who agrees to seel the property to the first guy with some money in hand, that's not a sale at market value.