Hence you need to be on top of your game.

Why, banks want real skin in the game, real equity for a 75% LTV loan, to date, a soft second filled the gap allowing a borrower to get in under the rules, but was more likely to walk away.

Life is truly weird sometimes, cards get dealt, and you gotta play the hand you are dealt.I'm a big fan of Robert Kiyosaki's "Rich Dad" books, and within' the philosophy, Robert teaches that there are 4 quarters to the "game of life".Age 25-35: 1st quarterAge 35-45: 2nd quarterAge 45-55: 3rd quarterAge 55-65: 4th quarterAge 65+: OvertimeAge 70: out of time...The goal of the this "game" (in order to win) your passive income is greater than your expenses - putting you what Robert calls "out of the rat race".If you think about it - many great sporting events are won in the last quarter - and given that you are still in YOUR FIRST quarter, it may give you some solace and encouragement to realize that you still have time to completely rebuild and succeed!

Every appraiser in town has a broker's license and they're the game too.

I'M NEW TO THIS SITE AND I'M ALSO NEW THE REAL ESTATE INVESTING GAME.

These can turn into a real mess, real fast.I do agree with everyone that buying a property to quickly flip using these techniques is much safer than when the end game is renting.Mike

Originally posted by "Dan O'Connor":Daniel,Huge opporunity along with huge potential for disaster (especially for new investors) awaits you in the probate game. 8) If you'll Google "rick harmon, the probate guy" you'll find a link to some posts of an investor buddy who works CA.

MikeOH's game plan seems to be very solid but I still have much to learn before I set on my own.

I will still need to come up with a substantial amount on my own.I am going to change my game plan and try to wholesale the property i had in mind.

And, if they fail, what better way to learn that they need to dust themselves off and get back in the game (that and I already took some items and sold them at the pawn shop...made back my $250 investment)!