[NOTE: the following is not to attract other investors, this is to build a retail buyer list... like paidwell mentions you only want to present good equity/profitable deals to local investors]Start by selling your own house?

But this can be an even more profitable deal to you than what you have before you, let me explain.Originally posted by "Wheatie":$47,000 - purchase $15,000 - rehab $412/month - payment on purchase + rehab, 30 years, 7% $1900/month rent $950/month NOI $537/month cash flow - looks good to me.

You aren't buying rental property.You are buying speculation property.Anytime the cost exceeds the rents coming in,you are gambling on gains on property for profit(which i think is insane)Speculation is dangerous

Like I said, they're expensive but if lack of funds is what's standing in the way of a nice profit, it's well worth it.

This is a bit more of an advanced strategy and you need to know how to investigate each property and due the due dilligence necessary to ensure a profitable investment.I would suggest as a newbie, you choose a different strategy to start out and get your feet wet.Now is the time for the buy and hold strategy.

How many of you are profiting form investing in REO properties?

Here's one:Appraised $100,000.00Sold to the client at 85% $85,000Immediate equity for client: $15,000Property rents for: $850 per monthNet monthly profit to client from rentals: $150.00That's about the same as the others they list.If you work the math backwards, and assume 6.5% 30 year note on the property, they're assuming expenses are about 20%.

I am a 23 year old graphic designer looking to buy a first home to live in, fix up and eventually sell for profit.

Rent it, bank a little into savings, once I get enough maybe roll the 'profit' into another one...

There are also many non-profit orginizations that offer down payment assistance for 1st time home buyers and give anywhere from 3% to 20% of purchase price.lito-