@Alexander Alguire Neither, It was the mental/emotional decision to ignore the little voice in my head saying 'that yield isn't enough' or ' another house sold for a better price three months ago so you should wait for one like that to come along' and write the check.

I my first hotel I was in was a 135 door hilton that was being self managed and the guy ran it into the ground and the hotel was sold due to bankruptcy (I was only a front desk agent at the time)  I then was promoted with a very large management company that came in and I learned the intricacies of what is needed to run a hotel just on the operations side, and learned a little about revenue management, sales and maintanence.

I don't know what constitutes self promotion on here but we do much less than 20% down on HML and f&f funding.

It was "harder" to spend the cash and easier to spend using a card, so we mentally leveraged to spend less overall. 

The purpose of this site is not self promotion!

He would get a preferred return (probably 8%) and then there would be a sponsor promote as well on distributions above the preferred return (probably a 65/35 split).  

Just transitioning to something new and different is the challenge mentally because I've been saving for quite a while and it is kind of all i know.

Build a network of trusted professionals such as Chris and keep a hungry mentality! 

Daryl:Advertising / {self-}promotion / soliciting / dealmaking are all activities which must take place in the Real Estate Marketplace.

I read in the papers during the current health care debate many believed that people on medicaid are drug addicts, have mental problems.