Now putting things in perspective, when I took that HELOC, I knew I'm taking a loan that have costs attached to it.

I feel like it is a good time now, as well, as long as I pick the correct area, the right price and condition of the unit(s).This is a great site, full of wonderful conversations, sharing, networking, ideas and perspective.

Stewart has been propping up the guys who caused this mess for years and now in the future, looks back upon Jim Cramers past and rips him from the perspective of hindsight.

Either way, from a tax perspective it works out the same.

Jesse, from a "flip" perspective, no $20k is not enough room after considering you will have 6%-9% on re-sell costs plus holding costs and any repair costs.

Normally if there is a tenant in the property you will need to factor it from a cash flow perspective (either a gross rent multiplier or ROI).The thing is that many times properties will sell for much more without a tenant in them.

I'm looking forward to it.My contribution to these forums will probably be more on common sense, insight into the Huntsville, AL and surrounding markets, and some banking perspective -although I do not deal with mortgages, we have a separate mort. dept. that handles that.Thanks for listening, can't wait to meet everyone!

I would assume that the LA has nothing to do with the aquisistion from the owners perspective.

I made some mistakes doing it, everyone does, but now I know and I have learned something truly valuable that will stick with me because I have done it.Sorry for ranting but I know how you feel right now and I felt some fresh perspective drizzled with a little bit of rant might hit the spot :)

To many people get into this business for the wrong reasons.Just put everything into perspective and treat people like you would want someone to treat you.