You'll want to watch out for Prepayment Penalty Periods too if you were to go with the rate/term because that may hinder you from going with a cash-out when you need it.

I guess that works if you want a listing or wholesalers type things.. but if you actually want to close on a deal I cant see why folks get the cart in front of the horse.. 

I’m new to real estate and looking to get started, I’ve watched a lot of videos and a lot say to start out wholesaling.

Hi Jerome - MTR is certainly one of the areas of lending that is still new and lenders are still adapting - probably going to run into trouble with more traditional and conventional lenders - which generally take a long time (years) to adapt to new trends like thisI wrote about this late last year as one of the developments to watch for 2024 - particularly how DSCR Lenders are approaching, which is likely the best bet for this investment type currently (but note not all DSCR Lenders are the same - so will need to vet and pick one that is MTR friendly and generally forward-thinking)What’s Next For DSCR Loans?

The first thing I had noticed from watching LoopNet over the years and limited research was that dealing with commercial brokers appeared even trickier than residential.

As a Banker I have watched the housing market cool off Nationwide and rates come down.

Congrats on saving up that's an amazing start.I would suggest holding off on flipping if you don't want to do it near you, although with $250k, you probably could find something even in California that you could flip, we hear horror stories from our clients all the time of how they hired a contractor but were not able to watch progress and fly in 2 months later to see almost no work done and most of the money spent.  

I watched a video about house flipping, and he said to secure a property before a hard money and gap lender.

Not to beat a dead horse here, but find a lender that you like working with, trust, and one that does a lot of transactions similar to yours, and is willing to say the hard things (i.e.

I doubt he ever recovered it.Another growing fraud to watch for?