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Thanks for your honest response Walter.

I respect your experience, but as far as "undoable", I struggle with
such a term. (No offense intended)
I am beating every available bush that I can find because I know that
the potential for a strong end result is there. All I need is for someone else to
recognize that potential as well.
Should that lender avail, I will certainly post a testimonial, once I complete
this project and prepare for the next!

You are correct, it may be that I end up partnering with someone that
can help complete the deals that lie ahead. I will be open to such, and
as a matter of fact I have already considered this option.

Regardless of the avenue that I take, my future as an REI is going
forward. I have no other options at this point in time.
I have overcome "undoables" in the past and I will continue to do so.

Sometimes we just have to recognize the areas that we are weak
in and seek help accordingly.

Thanks again for your response.

Please excuse my ignorance. I am just getting started, so please be gentle. LOL!

I just spoke with a lender today, that was checking on a No Doc loan for me.
We seemed to have miscommunicated somewhere along the line because she did not realize that I needed to capture my holding costs, closing costs, and rehab costs within the loan. She presented a 90% No Doc based on my offer.
Once we straightened out our communication gap, she said that she was
going to try to find a loan that would fit my needs.
She will get back with me on Monday.

The property is listed at $44,900.
I offered $37,500.
Rehab costs are approx. $15,000.
I figured approx. $4500 for 6 months holding costs.
So, I am figuring on a loan for approx. $60,000.
The Comps for the neighborhood are at $85,000+.

I prefer No Doc because my credit is excellent, but my asset to liability
and income is not good.

Is there such a thing as No Doc based on ARV?

If someone knows of, or can offer, such please respond.

Thanks.

Hi All!

As mentioned, I am looking for a Mid Georgia mentor willing to assist a
willing individual in the "art" of REI.

Brief Experience:

Currently retired at 46 years of age.
Carpentry background = 4 years.
Apartment Maintenance = 5 years.
Management (Corporate) = Too many

Getting down to the nitty gritty.....
I took early retirement last year and my wife is starting
her 3 year Nursing Degree in January, meanwhile we would
love the opportunity to start in REI.

I am already working with a Realtor, but I would welcome
the opportunity to gain experience from an expert in this
locality.