The bank rep called us out of the blue and "offered" this to us and then proceeded to tell me that they have the right to call the note due, although we have never been late, and also to withdraw any assets ( i.e. money deposited in our business check book ) related to that business they have in order to satisfy this loan ( or part of the loan ) !!!!!!

there are only 24 hours in a day --first you need a well thought out Business Plan -- supply and demand as well as appreciation study for new area-- if homes are selling cheap and rent is high --may not be long before you have competition --Several ways-- Have an LLC and go Private Placement offering--to rasie $1.0 million --and buy 10 to 20 houses in one year---or even six months --if you are aggressive and have foreclosures or fixer uppers available in area- 25K per building ( hosue) - may not be enough and too much paperwork -- too slow process-You need to decide how much your time is worth -what can you make as salary -full time -minimum $80,000 per year - subtract all expenses --car -mileage , meals etc --then project profit and offer 50 % of profit -- alsoneed to consider income taxes --deprecition as well as capital gaines tax--need to run projections over five years -- how many houses will you buy and how long will you keep ?

I am 1/4 of the way there and the market has slowed down.

The problem we have now is trying to slow down and not let our drive get us overextended and into hot water like many other investors!

Showing your work tells the seller that you know what you're doing, a degree of professionalism and they realize that even if some really slow thinking buyer comes along, they will eventually have the property appraised and arrive at a very similar situation, so why waste time?

You can usually skim (or speed read) most of the filler, like when they tell stories, and then slow down and/or reread the important information.

In addition, being a web designer, I find I have MANY more glitches and time consuming slow downs accessing the web than accessing outlook.

However I am waiting for the seller to finally sign the contract today (the thanksgiving last week slowed the process down), and therefore I don't want to talk here about all the details.Anyway, I should have quite high margin of safety, even if the interest rates would double in 3 years.

Banks are very slow.

But this could be an area like mine where it can take 3 months for the owner name to change after a foreclosure (legal type stuff slows things down).