All Forum Posts by: DeWayne Mann

Thanks JeffJeff

I hope it's that easy. Some are saying the bank wants you to hold property for a time period especially if it's a rental.  I just want my money back out so I can get the next deal...quickly

all i want to do is make about a deal a month for about 5 years.  keep my properties rented, make good cashflow, keep momma happy, have a retirement.   i thought keeping momma happy was the hard part.  looking like dealing with banks is going to take her place!

who wants seasoned?   if the one that lended me money to do the deal(hard money/private money) is the one, what does it matter as long as i am paying him his interest?  if the one who is getting ready to provide loan on the house(conventional), then why would he need a seasoning period?  either way, they are making their money!

so, im getting conflicting answers from people. my question is this: if i use hard cash or private money to buy, rehab, and hold. as long as i keep my ARV under their loan threshold of 70-80%, i should recoup all the money i put into property...correct? yes....this is how green i am. i guess it would be more like...buy, rehab, recoup money, and hold

also, what is this seasoning period i keep hearing about?  i don't have time to wait a year between deals.

so, im getting conflicting answers from people. my question is this: if i use hard cash or private money to buy, rehab, and hold. as long as i keep my ARV under their loan threshold of 70-80%, i should recoup all the money i put into property...correct? yes....this is how green i am.

 Your #2 and #3 are the same questions i have.  

http://www.biggerpockets.com/rei/bank-owned-reo/

working with my cousin on stuff in texas.  he's the expert and my mentor.  i am really excited.