We utilize Colonial for the A paper, but need a company to co-broker the sub prime stuff to.

Well speaking from personal experiance as a real estate firm owner I would not sponsor anyone due to the large cost and paper work involved in this.

The only spending I think worthwhile is posting classified OPEN HOUSE ADS in the local paper.

oh i realized after i posted and read it this morning that i left out one important point in my last post.the plans you make before you actually have a clue - are just plain silly.mine were so silly, that everytime i think about them or find an old piece of paper with "plans" on them from about 8 months ago or so, i want to slap myself.when i started out - my intentions were so over-the-top and grandiose in scheme, that at some point, i had to just say :protest: i had to sloooowwww down - focus on information.

i even have a website i made and put link in the paper for the house.http://www.6320peachorchardroad.com/i have shown the house to married couple and a young girl and her sister.

Most appraisers will lean heavily toward the income approach for a 20-unit apartment building and, as mentioned above, the lender will definitely apply the LTV to the lesser of the appraisal or the purchase price.FYI, portfolio lenders (those that hold their paper in house) may go higher than 75% on an apartment property.

I have some nice paper plans for this

My question is do you know if I need to prove that the bank/lienholder was notified of the sale or was the listing in the paper and to the former owner enough?

I am familiar with the transaction, the paper work (lots of paper work), etc, I've done them before (lord knows we have enough pre-foreclosures in Texas).

Systems in my area run 750-2500 depending on what needs to be done and the layout of the property.