i had a local developer look at the lot and write up a report on it.

I'm still fairly new at this game too, and have been learning by doing.

I have direct contact with the administrations of Newark, Irvington, East Orange, Orange and Trenton, New Jersey where major developments are underway and being proposed.

I worked out a deal where I would put the seller and buyer together for a small fee directly with the owner prioor to this development.

#2 Develop a team.

The area I am investing in is an area by the water with alot of big developer money going into the community.

Condo-hotel buyers in the Philippines dont even have to worry about interest rates because developers offer short term payment plans over 2-5 years at zero interest so buyers can immeadiately think revenue from the units they buy because they dont have to worry about computing income to cover the interest portion on a developers interest free payment plan.

This is the development project link http://www.pcbonthemove.com/

I could have just evicted both tenants and got new ones but it's the same game until you find the perfect set.

It's just that your rates will be higher.Bottom line: anyone, with any amount of cash and any credit score can get into this game... but the question is how much interest are you going to have to pay for the funds and how hard is it going to be to find the right lender / program?