It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

Fielded quite a few calls but haven't talked to too many motivated sellers yet.Anyways, I went on my first appointment w/ seller yesterday he owns a 7 residential unit property with a commercial (business office) unit as well - 8 units total.

Rent on the two units total.

Forgot to mention that I recently blogged about some note deals, so you might want to check that!

Since the total outlay doesn't show up on the tax return immediately, it's somewhat hidden from view.

Auctions are hard just because of competition of being a little guy going up against the big boys with pockets full of cash.Sorry, don't want to be a total debbie downer, but just make sure you know what you are looking.

“ they're probably compensating for something else “That’s why I drive small vehicles“ if your Realtor ignored you to talk to a stranger “I totally agree – new real estate agent ( next )His vehicle would not last more than 31 minutes in City of Milwaukee un-attendedManuel Acuna, stay motivated

Since the HML lent you funds for both purchase and rehab (many will go to 100% of P+R as long as the ARV is sufficient to keep the LTV below 65%), you are not looking for additional cash from the conventional take-out lender, just a refinance of the total HML loan.

Hi Bill,I totally see your point.

Apparently there was a last minute rental from the agency, and they forgot to notify the owners.