I am hesitant to talk my book because I never liked doing that with futures or equities until I sold half at a profit... but... I bought my first property today since getting smoked for a lot of money in Florida 5-7 years ago. I was planning to trade more actively but I just did not see risk reward. My theory is, interest rates should stay low and the market should stay hot for the next few months. I have about a 60 day hold on this. I think I can get a conservative 20 percent return after expenses. I am buying an REO right from the bank's portfolio... we inspected it and we will spend 20 grand on updating. Background I am a broker I have about 35 other listings mostly short sales... many properties are getting multiple offers and I have potential buyer's in may database. If this works and there are still REOS in two months, I will try and do it again once or twice before say Sept or Oct. My 3rd target may be for a rental investment. I was not stoked about funding on friday the 13th but I was born on friday the 13th. I will update when the property records early next week.