No wonder that guy wanted out so bad.

If this guy says it’s bad then it’s really, really bad!

A bad deal tends to force you down one strategy and is a nightmare when that strategy blows up.Good luck.John Corey

I've seen too many things go bad for other people by doing it otherwise.I've helped other people do deals over & over but I'm nervous / scared(yes I said it) b/c it's me.

Good/Bad?

You are getting bad mortgage advice.Find a mortgage broker who handles loans for investors.

For me I found that it is easier this way because we constantly have projects waiting to get started I try to plan that no more than 2 weeks before the next project is started usually less than 1 week but you know how things go.With a general contractor the will bid the job do the job as they are working on other projects as well and then when things they quoted you are done thats it, it doesn't matter that the doors need trimmed because the carpet and pad are too thick, that the outlets need to be changed because now they look bad on a freshly painted wall, if it wasn't in the original qoute it is extra and they may not be able to get back to it for 2-6 weeks as they are already scheduled for their next job.

It would also make no sense to think that all the foreclosures turn into REOs as most foreclosures get resolved before the REO stage.The losses being reported on Wall Street are not from 100% of the MBS going bad.

I am just saying it would be a bad use of your money now.John Corey

Enough lime on your skin and it will burn badly.