Posted by Tommy Ray on July 12, 2009 at 15:13:48:
In Reply to: new investor posted by chris on June 29, 2009 at 22:42:07:
Chris, knowing what I know now I would focus on:
1. Buying "Subject to" current mortgage deals
2. Buying properties with the highest capitalization rates (e.g. cash flow potential). I am getting into buying older foreclosed properties and converting them to boarding homes now. The cash flow numbers are incredible. If yo had a few of those you would "earn" loads of financing from banks.... Flipside you would be reporting the nice income on your tax return but the banks would see the income on the same tax return and open up their vault of mortgage monies to you....