Here in the good ole' USA this credit crunch has created a lot of opportunity to make a lot of money.....as they say, "the time to make money, is when the blood is running in the streets" (or something along those lines).

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so I want to learn to invest in apartment houses.my question is does anyone have any experience with property management companies.. well working for them that is.. and if so would you rec. me working for a company to gain experience, and maybe take some IREM classes to learn how to manage properties, and then since I have my own license I could create my own management company?

In most partnerships it's best if only one partner is the chief and the rest are the indians. 50/50 creates two chiefs.

You need to create a buyer's list.

Dept store cards typically have the highest rates, worst fees, worst penalties and if you can only use them at dept stores they tend to create situations where people buy items (clothes, shoes, electronics) that they cannot afford.

The end buyer's money is used to fund both transactions.Another approach is to create a company, have the company buy the property, then have the end buyer buy the company.There are also some lenders around who'll do a loan for a day or two to let you buy it then resell it.Have to have a cash or hard money buyer because a conventional lender won't fund a deal like this.Need to figure out what its really worth.

Hey Jason, thanks for taking time out of your busy schedule to give me some knowledgeable advice about this topic.all I need now is to know how to keep my attorney fee's down when creating these contracts lol, which I would like for my lawyer to draft so that way i'm well protected at an advantage (my lawyer charges $320 an hour, thats why I'm concerned about this issue).

IE: If we have a mortgage for 130K at 7.5% for 30 years the monthly payment is $908.98.Potential buyer purchases house from us for $154K at 8% with a monthly payment being $1130.00This creates $221.02 monthly cash flow, the house is occupied and the house acts as collateral if they don't pay.

Agree, starting with your state Realtor's contract is an option, and lots cheaper than having an attorney create one.