We can let the same thing happen to us when we become anchored in the past.The past is gone and we have today to act based on today's reality.

Like any business the number one way to increase chances of success is to be well capitalized.Everyone talks about getting into RE with no money but the reality is your chances are probably 1-10% if you do that.If you have a good bankroll that allows you to put money down on property, pay for rehabs and make a mistake or 2 your odds of success go up to 50, 60, 70% or more.Lots of other things help a little, but no other single factor influences your chances of success as much.I tried to do this a few times in my younger days when I had little cash without success.

Everyone talks about getting into RE with no money but the reality is your chances are probably 1-10% if you do that.If you have a good bankroll that allows you to put money down on property, pay for rehabs and make a mistake or 2 your odds of success go up to 50, 60, 70% or more."

You have to remember with owner finance sellers believe they will be able to get an unrealistic price.The reality is owner finance will help get them full market value but they won't be able to get an insane price because of the owner finance.This is when you have to bring them down to Earth and offer them a little more with owner finance where it will still work for you but not put you into a bad deal.

Good point Jeff: Dayton is definitely a hands on situation for now and while a property manager is supposed to make it passive the reality is that they often need as much management as tenants in some cases.

Our both elementary and middle schools are exemplary and there has been always a demand and this is right around the school year but you never know.I like all your posts replying with your real world experience to expose the reality of the landlord world for all the uninformed newbies like me to just jump in and get burnt.

In reality, none of what when on previously really matters unless it left a cloud on title.

So when you do build your business be sure to take time off and enjoy life a little :) Just know if you can dream it... you can make it a reality!

If RE was my full time gig and I was immersed in it all day, making the note would probably make sense.The reality is, this is pretty much a win, win, win scenario.Wish it were mine!

All of your answers and advice is really helping me to get a good reality on the note investing business and will help me to structure this note at an optimal level.Alfred