Just took my 40 hour class and now going to start applying to take the state exam.

What I'm about to say is my opinion based on several factors; a. experience in reviewing thousands of RE transaction with respect to lending issues. b. legal aspects from personal experience and formal training and c. subjective judgment in applying learned experiences.

Even if you set up an account with Listsource, they still charge 10 cents for that Equity % filter. 8 cents would be their pre-paid cost for a list without that filter applied.

If you apply that 50% thingy "rule" it doesn't look so hot...

I find it all so incredibly interesting to learn about and want to start applying the tools I have and put them into action.Although I am eager to get going as soon as possible, I do have a few limitations and have had some set backs when it comes to income available as well as credit history for loan/mortgage approval.I have been doing a lot of reading about lease options, lease purchases, notes, partnering with an investor, purchasing without a bank loan...I am wondering if there is anyone who can help with some insight who may have gone this route or found themselves in a similar situation as me who could offer some advice on the best way for me to get started.Thanks so much!

@Jonathan Richards If you're using gmail, you could setup a quick filter that would take any message coming from the BiggerPockets listserv email, check the body for keywords like "DC" and the like, then apply a label to it/archive.

@Matt TheriaultDoes this only apply to FNMA and FMCC backed mortgages?

This is really a much more basic question, and isn't necessarily one that is specific to CA, although southern CA is a particularly popular market to apply the premise.

Cash on cash return (annual income / money down) should be 35% or more and cost per unit (for 1-2 bed units) should be $50,000 or lower.He doesn't recommend using the 1% rule because you'll need a higher down payment to make it cash flow.Hope that helps.Be aware that These numbers may not apply much to today's days,35% cash on cash is almost impossible to achieve, you would need to get 1,400 in net monthly rent on a 250k property.

@Spencer OBrienLicensed agents need to work under a designated broker (firm) for three years before they can apply for their Managing Brokers license.