I noticed a lot of "needs work" ads in the Waterbury area, tenants down there are probably rough on the units.

"adding value" and "finding deals" are two seperate things...somewhat.obviously, to find "deals" you need to find a property that is most likely, in need of repairs, either by you or by an assignee (wholesaling).but strictly "adding value" is a seperate category in and of itself.

Okay , yes I am a super-newbie, yes I know you hate newbie so....Bought my first property for the sole purpose of investing.Not buying my home first and moving out later.Okay paid 190k less 5k closing put 42k down.Interest only mortage 6.875% for the first 10 years/30 year mtg.Filled out a form for section 8 housing.I am going to let weichert find me a tenant because its 20 miles from where I live.I put an ad on craigslist, just hoping for feelers.http://washingtondc.craigslist.org/nva/apa/244007813.htmlSo far nothing, no calls since last thursday, yes I know its only 6 days , but I guess I am nervous about being vacant all winter.I have enough saved that I could pay for the mortgage no problem.But like someone said you don't want a savings account investment where you are putting in all the principle out of your pocket, you want to make money off the rent.Any good tips on finding tenants?

Are you added as an authorized buyer?

I have my present home that I am putting $5,000.00 extra amonth in pricnipal.

Hey Everyone - We've just added two new areas to the forums.

Charles,It may simply be that your ad lacks a fun, easy list of all of the benefits of your particular rental.Unfortunately, Weichart doesn't really have much motivation because they don't stand to make a lot of money off of your one rental.

With a $650 mortgage (which I'm not sure that's accurate with a 52K note) then most of the extra $200 you were factoring as cash flow will get eaten up in maintenance and vacancy.

This will give you a rough estimate of their payoff and the extra fees involved in a preforeclosure.

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