Bill
Dear Bill,
I was sitting in groundschool one day and realized that I could build a new home for %70 of its appraised value. I also knew that upon completion I could get financing that would go to %80 LTV. Therefore, I could make my own deals if I could secure credit lines worth at least 100K and find a supply of building lots. That is most of what I do. The remaining %10 is what I live on. I would love to have you come up here and we could have lunch and I could show you my operation. There is an entire industry growing to help owner/builders to do the same thing on their own homes. Sometimes I buy a home from a failed landlord. Like you mentioned people try and jump into managing rentals and the house gets distroyed. They sell in disgust and I buy it and fix it up. Last summer I bought one from a NWA 747 Captain. For some strange reason he was in the process of selling all his stuff. Maybe he knew something.
Skyline