Want Some Bulk REOs?

Hi mary,

I made a mistake when I bought this house and thankfully
for the $8,000 tax credit, I only lost $2,342 on it.

Yes, I admit. I've done many dumb things :-)

I've made a ton of mistakes in my real estate career and
continue to make them so that you, my student, can avoid
them.

Here's what happened.

There was a house here in Houston that I fell in love with
because it was only 2 years old when I bought it and it didn't
need any repairs.

I thought it would make a great rental property and I was
banking on the property's appreciation. I was pretty sure
the value will still go up.

Boy was I wrong.

My mistake was I overbought this house from a short sale
when the market was hot. I simply thought there was no way
I could lose.

Little did I know that the banks would sell similar houses in that
neighborhood for much much less years later.

Good thing my house was in great condition and we've fixed
it up nicely since the last tenant moved out.

So we were able to sell it to a first time home buyer who was
excited to get the $8k tax credit and fell in love with the house.

The reason I shared this story with you is to let you know that:

1. don't fall in love with your investment. The numbers have to
work. It's okay to fall in love with your personal home but not
your investment property.

And

2. you don't have to go through the school of hard knocks like
I did. Learn from my mistakes.

We're going to have an exclusive training on this $8k tax credit
strategy next week.

I can't wait. :-)

Talk soon.

Tim Mai

P.S. No w check out the exciting news about the extension of the
tax credit until April 2010.