When engaging with a lender of choice never commit to a loan deposit if the loan still needs to be approved by loan committee. Until loan is accepted by loan committee you are simply no more than just prequalified by ...

Savings is also a good wealth generator, because it enables investing, but it is the number two lowest!

We call it procuring cause.

Keep the HELOC if it enables you to build the business you want. 

___Chapter 4735: REAL ESTATE BROKERS4735.01 Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

The wholesaler had it under contract for $83,000 so we met with the owner and offered him $88,000 if he would give us 6 months to complete the renovations and procure a sale.

@Tim Johnson, do a little research on different procurement methods. 

Thus, is to assist contractors in the elimination of wasted time, and to align the procuring of material set-up on a twice a week basis. 

As well, there tends to be a lack of excellent human support.The combination of some tech to procure general information and expedite the initial processes, as well as a caring loan officer seems to give one the best of both worlds, at least in our current state.

It enables the PM to be profitable (assuming they do their job right) and the owner gets piece of mind regarding stable income stream and protection of their asset.Account Closed that depends on what your market supports.