Don't include taxes and insurance, those go in the expenses.

When banks do these loans, they require significantly higher down payments to insure their equity position in the event of a foreclosure.

They do like it all (just like insurance agents) like the post above said so build a relationship.

Thanks Mike.The problem with Long Island (Even during this Real Estate slump we're in) is property values here in addition to the ridiculous taxes and insurance make it very hard to cash flow.

You'll also have other prepaid items like a appraisal, insurance, inspections, and surveys.Rental:You have your total acquisition costs as a starting point.

Lastly I developed and launched a new business unit for the publication that generates over $45k per month.I share all this not to gloat, show off or inflate my ego with self importance, but in hopes of your consideration as a peer in the business world.There is no question that anyone with a real estate licence is a business owner whether they work independently or are part of an established firm.

Don’t make them a firm commitment but ask them things like “If I could offer you x, do you think we might have a deal”.10.

You'll also want to check with your CPA about the tax implications of moving the house in and out of entities.Be sure that you also check your hazard insurance and title insurance each time you re-title the property to be sure that the proper entity is insured.

Here in the city of Norfolk, you must go through one of the two law firms to purchase a delinquent tax property.

Putting the house into a trust and(ex 123 main st trust) assigning my company as trusteeThe seller asked me a question regarding keeping the insurance in place as well.