Request: I am a newer investor seeking a mentor or individual experienced in foreclosure sales who would be willing to share some knowledge.About me: my name is Elizabeth, I am a newer real estate investor (licensed in CO) and a full-time engineer.

Most lenders will require it be in an entity, but a handful of larger institutional lenders are doing them in the individuals' names.

Property DetailsPurchase Price & Financing: $500,000 owner carry, 10-year term, 5% interest rate, balloon payment at the end.Zoning: Multi-family, mixed-use, RV parks.Current Condition:3 single-family homes (2 with tenants paying $600/month each, 1 with a squatter).7 manufactured homes (all condemned or in severe disrepair).3 cottages (in poor condition).Monthly Expenses:Mortgage: ~$3,000/month.Sewer: $1,300/month ($100 flat rate per connection, 13 connections).Taxes & Insurance: ~$700/month.Total: ~$5,000/month in carrying costs until properties are fixed and generating income.Proposed PlanMy strategy is to renovate and reposition the property over the next 2 years to maximize cash flow.

You do have to have sales skills and a great follow up process but ifthe lead is free first, you're paying more in commissions every timewithout sharpening your sales skills.I've been in both positions as an Acquisition Manager.Except, I was either paid a fixed salary or I can get a big % of every deal closed on theprofit of the total rehab when the house sells.A fixed salary made me incredibly lazy, because no matter what happenedwith a lead, there seemed to be no loss.Until I looked at my numbers when I switched to a higher commission pay structure only.Isn't that funny how it was the opposite scenario of paid lead generation?

I personally think a "mothership" LLC that owns single-member LLCs that hold individual properties is pretty scalable.

Whether or not the Doctor “should  or if they can leverage losses generated from cost segregation study to offset non-passive income depends on other factors.  

To make that happen, the key is building a portfolio now that generates consistent cash flow and long-term appreciation.Just my two cents - one of the most efficient ways to do this is through turnkey, long-term buy-and-hold properties.

I’ve had to reset and start from the ground up, but I see that as an opportunity to learn this business the right way from day one.My primary focus right now is generating motivated seller leads (probate, pre-foreclosure, distressed, tired landlords) and building relationships with serious buyers who want consistent deal flow.

Looking for: Someone that’s kind, caring, and patience, NOT JUDGEMENTAL OR A KNOW IT ALL.Someone that is flexible and still structured Someone that will guide me through regular activities that help me build my business such as: lead generation activities, practicing buyer consults, practicing seller consultation, help making scripts for conversation, etc.

I often hear that a property should positive cashflow and only then it's a good investment.I have finalized a property that generates 0.8% of purchase price in rentals every month.But will 6.25% interest rate and 5% down payment plus deducting expenses like property taxes, home insurance, mortgage insurance and variable taxes like vacancy (8%), maintenance (8%), property management (8%), I am only left with negative cashflow.Am I doing something wrong?