A lot depends on your skill set, working capital, time and access to capital to buy notes.I am not saying this should be your note buying business structure but just wanted you to know mine so you know where I'm coming from on my marketing strategies.I structured my note buying business to buy notes for my own account (self-directed IRA for tax-free growth and now with the Roth, tax-free withdrawal… Very cool) and by/broker mortgage notes for a fee… nationwide.

Many plumbers have superb dramatic presentations and selling skills and will make you think if you don't do replacements that something really bad could happen at any minute.

But I don't know how to make widgets, so I stick with what I know, and what works for me.I think that the market fundamentals, the recent market meltdown, and the skill set of me and my team are in perfect alignment to capture the most advantage in the residential market.

I brushed up on my database skills and whittled things down to a meaningful and manageable list.

Researching other countries is no different to researching the general real-estate sector for non real-estate investors, researching the stock market for non-stock market experienced newbies, or researching Lithuanian cabinet making for anyone but a third generation Lithuanian cabinet maker - if you've got the brains to workout how to invest in real estate successfully in the first place, you've got the brains to learn how to do it anywhere in the world - it takes a whole lot of reading, networking, common sense and Internet/spreadsheet skills.

Additionally, how do you approach a seller when taking about L/O, I've been bringing up the big advantages-no commissions or fees-no closing costs-top dollar for your home even in a down market-cash flow-I find a buyer for them-services are free to themI would love any suggestions you may have, I am confident in my skills and I know if I can reach the right h/o I can close a deal.

That's true, but I have a limited set of 'skills' - things that I do around my own house - like snaking, changing furnace filters, repairing window screens, repainting walls after a tenant leaves, etc., that I thought I'd be able to do in a rental unit (and would do, if it wasn't tied up in an LLC/IRA).

As such, if you have the skills, I tend to lean towards a fix and flip option while building capital.

Labor prices will vary based on many things:- Location- Time of Year- Skill of Contractor- Insurance/Licensing of Contractor- Finish Level- Your Negotiating Ability- Etc.That said, as Joel pointed out above, if you're paying RSMeans prices, you're way overpaying for the typical low- to mid-level rehab.

Negotiation Skills.