Posted by Brent_IL on August 26, 2003 at 23:48:27:
Expenses are homeboys, they are never unexpected; it’s just that they decided to come to the party a little earlier than we thought they would arrive.
When your down payment is larger than the minimum required the underlying loans necessary to buy the place are smaller. Smaller loans equals smaller payments, so, if you don’t spend it, there is more cash available for back up.
Prior than about two years ago when rates plummeted, for two decades it was highly improbable that you would find a random “good” deal on the MLS even if you put down 20%. Guys that bought from the listings had specific qualifications and were selective.
The MLS has value, but not for most fledgling RE investors. Use the MLS as a study tool. Notice the information that is missing as well as what is in the listing sheet. To understand creative real estate investing you first have to get the hang of real estate investing.