[Lucky]

Wow,

Great reply as always Matt. I'll search for your old post on REI, most of which I've read, but would like to read again.

It was just so no nice to hear you in the past, as you were one of the few people taking a line that i like in investments.

I don't think I'll ever get into stocks past solid mutual funds, ie my 401k to hedge against real estate disaster (although in the turtle like mid-south i dont think that will be a problem).

Thanks especially for enumerating the basics:
1. do deals with 5% or less.
2. buy sfh, duplexes, and apts, not condos, etc.
3. roll closing costs into loan.
4. dont pay points.

All of these are great points, especially as everyone will be hammering us to put more than 5 percent down. It's nice to know that there is a cut off to make a deal feasible, "No Mr. Mister Mortgage Broker, There's a big internet poker player/doctor/investor, and he says 5 percent is the ceiling, take it or leave it!"

But seriously, that is a huge point, because it's not about what you own, but what you control. If you were goint to get 100k of real estate for 100k of investment, you're better off with S &P. The miracle of real estate, like hedge funds for the super rich, is leverage.

Anyway, i'd always figured id need 10 percent, ie 100k could control 1 mil, etc.

Im rambling, but once again, thanks matt