It would certainly put a spin on Mark Twain’s jest: “Buy land they’re not making it anymore.â€

A banker would much rather call a client that is likely to know a deal when he sees it, he knows has money and can close, than to spin it out through a broker.

If not the drywall will come crashing down when the fan starts spinning.

I just feel I would rather work with the professional on the ground rather than spinning my wheels trying to go there and learn for myself what that guy may already know like the back of his hand.

Obviously this was started by some guru type as a spin off thinking that if you're not a Realtor, it's OK to do it.All lenders will accept an option that was paid as a credit to a down payment if the option passes the smell test.

I have been spinning my wheels for a long time now and I want to try to see if I can find someone on here who invests in the area and can help steer me in the right direction.I have looked into several REO deals, but they all came up dry.

The equation is established by the bank, and is what makes investors heads spin (because the investor does not know what the bank's calculations include/look like).

Will, I appreciate your reply, and I won't argue with your personal experience.What I will say, as someone who has made a lot of loans to borrowers in the past, is that if I ever found out a personal borrower moved my collateral into a business entity -- in strict defiance of the terms of my deal, which is that HE/SHE is the owner of the property, and HE/SHE is my borrower -- I'd foreclose so fast his head would spin, timely payments or not.Now, that's just me, and it assumes I'm still at one of the big mega-banks where we didn't have a lot of wiggle room for judgment calls.

We ran into the same this, quadplex for 30k needed 20k or so of work, we could not have a deed recorded for more than 36k no matter how you spin it.

I am a newbie here but I think you might be spinning you wheels on this one.