PRIVATE MONEY GREAT CREDIT AND HISTORY NEED REASONABLE LONG TERM FIN.

HI

THANKS FOR YOUR RESPONSE. I ONLY BUY HERE IN MY LOCAL AREA. I KNOW THE MARKET HERE BETTER THEN ANY REAL ESTATE AGENT OR APPRAISER. I WATCH EVERY HOUSE THAT IS BOUGHT AND SOLD AND HAVE BEEN DOING SO FOR TEN YEARS. IF A HOUSE GOES TO FORECLOSURE AND I DONT BUY IT I WATCH WHAT IS PAID FOR IT WHAT THE PERSON DOES TO FIX IT UP AND HAVE BEEN LEARNING WHAT REMODELS AND REPAIRS NET THE BIGGEST RETURN. MY BIGGEST MISTAKE OVER THE LAST TEN YEARS IS I JUST BOUGHT WHAT I COULD BUY BY MYSLEF I HAD A LINE OF CREDIT AND WOULD PAY CASH FOR THEM AND ONCE I NEEDED MORE MONEY I WOULD JUST REFINACNCE A HOUSE AT 80% LOAN TO VALUE AND REFILL MY WAR CHEST. THIS WORKED NICELY FOR MANY YEARS I AM A W2 EMPLOYEE WITH GREAT INCOME AND GREAT CREDIT OVER THE YEARS AS I AQUIRED MORE AND MORE HOUSES IT HAS BECOME DIFICULT TO REFINANCE. FINALLY I HIT THAT MAGIC NUMBER AFTER THE HOUSING CRASHED AND BANKS TIGHTEND UP AND I HAVE NOT BEEN ABLE TO GET CONVENTIAL FINANCING FOR THE LAST TWO YEARS. I SHOULD HAVE BEEN BUYING ALL THE DEALS I FOUND AND SELLING THE EXTRA ONES INSTEAD OF JUST DOING THE ONES MY CASH FLOW COULD HANDLE. WITH THE DEALS BEING SO GOOD I HAVE FORMED SEVERAL PARTNERSHIPS WHERE THE PARTNERS BRING THE MONEY AND I BRING THE EXPERIENCE AND THE HEADACHES FROM RENTING PROPERTIES AND WE SPLIT EVERYTHING 50/50. ONE OF MY PARTNERS DID 5 THIS WAY AND WE MADE SOME GREAT BUYS BUT HE THINKS HE IS NOT GETTING ENUFF SO IS GOING TO CONTIUE ON NEW VENTURES BY HIMSELF. MY OTHER PATNER AND I HAVE BOUGHT 5 WITH ONE MORE UNDER CONTRACT CLOSING THE END OF AUG. BUT HE PROMISED HIS WIFE HE WONT DO ANY MORE UNTIL THEY HAVE LITTLE MORE HISTORY AND COMFORT WITH WHAT WE HAVE DONE. I ALSO PARTNERED WITH MY REAL ESTATE AGENT AND WE BOUGHT A HOUSE THAT I REMODELED AND WE SOLD. HE IS REFINANCING IT AS WE SPEAD AND WE BOTH NETTED 18K EACH. I WONT DO IT AGAIN UNLESS HE PAYS ME MORE THEN HALF OR HELPS WITH THE WORK MORE. WE WERE SUPPOSED TO BOTH WORK EQUALLY BUT I ENDED UP DOING ALL THE WORK. I THINK WE ARE GOING TO PARNTER UP ON 5 HOUSES TOGETHER AND TURN THEM INTO RENTALS BUT WE HAVENT DONE THIS YET. I HAVE 2 OR 3 MORE POSIBLE PARNTERS BUT THEY HAVE NOT AGREED TO JUMP YET. AS I BUILD MORE AND MORE HISTORY IT HAS BECOME EASIER TO GET PARNTERS BUT I AM GIVING UP ALOT 50% WITH PARNTERS AND WOULD PREFER TO JUST GET SOME FINANCING ON MY OWN. ALSO DURING THE TIME WITH THE PARTNERS I WAS ABLE TO GET SIX PROPERTIES BOUGHT ON OWNER FINANCING DEALS OR DEALS WHERE I JUST TAKE OVER THE PAYMENTS. I HAVE BEEN PAYING TO MUCH FOR THESE HOUSES OR RETAIL FOR THEM BUT AT RETAIL IT PENCILS OUT BETTER THEN GIVING UP HALF TO A PARTNERSHIP. I CLOSED A OWNER CARRY YEST AND ADDED IT UP I HAVE 34 HOUSES INCLUDING MY PERSONAL HOUSE AND MY VACATION HOME ELEVEN WITH PARTNERS AND 21 BYE MYSELF. AND ONE HOUSE THAT I AM CARRYING THE CONTRACT ON I WOULD BE INTERSTED IN SELLING YOU THAT CONTRACT IF THE PRICE WAS RIGHT. THE HOUSE WAS SOLD FOR 80K ALLMOST TWO YEARS AGO THE NOTE IS 12% INT WITH 5K DOWN. THE PAYMENTS WERE SET UP ON A SLIDING SCALE FOR THE FIRST FOUR YEARS TO MAKE IT MORE AFFORDABLE FOR THE BUYER AND GOES UP 100 PER MONTH AND ON THE FOURTH YEAR IT RESETS TO NORMAL AMORTIZATION. IT ALSO HAS A CALLABLE FEATURE AFTER SIX YEARS I THINK.... THIS IS ONLY DONE ON DEED FOR CONTRACT I WAS SUPPOSED TO TRANSFER TITLE TO THE HOUSE BUT HAVE NOT DONE SO YET, THEY HAVENT ASKED AND I HAVENT VOL. THE BALANCE IS AROUND 77500 AND THEY HAVE PAID LIKE CLOCKWORK A COUPLE MONTHS AHEAD ON PAYMENTS. WELL THATS MY STORY WOULD BE INTERSTED IN ANY IDEAS OR POINTERS. I DONT REALLY WANT TO BUY PROPERTY OUTSIDE OF MY LOCAL AREA MY GAME IS BUY AND RENT AND WHEN MARKET TURNS IN FEW YEARS I WILL SALE A FEW PROPERTIES AND PAY DOWN DEBT AND HOPEFULLY RETIRE FROM MY FULL TIME JOB IN NEXT 5-10 YRS BUT I WILL FOR SURE WITHIN 14YRS.

THANKS FOR IMFO AND LET ME KNOW ANY SUGGESTIONS.

THANKS AGAIN BRYAN