Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.

Many banks limit personal loan amounts.

Key Deal Points:Loan Amount: $88,000Lien Position: 1st position Purchase Price: $120,000Appraised Value: $250,000Interest Rate/Return: 11% annual returnTerm: 5-year balloon (meaning the entire principal and interest must be paid at the end of the term)LTV ratio: 35.2%---Licensed Lending company for contractsRMLO package completed on buyersServicing company for payment

I used a hard money loan to finance the purchase and rehab costs, with a small amount of my own cash for contingencies.

I used a hard money loan to finance the purchase and rehab costs, with a small amount of my own cash for contingencies.

The amounts of square footage cover is so low the delta becomes a rounding error. 

From the little I know of San Antonio (I am a wholesaler who specializing in selling STRs nationwide) its not a super hot Airbnb market but the amount you expect for rent sounds pretty conservative. 

I'm psyched to put a significant amount of my net worth on the line, in fact. 

Welcome to the community and be ready for a huge amount of information at your finger tips.

After I placed the 5 day notice on her front door, she text me the next and said she would pay the full amount so I told her to go to the bank and deposit it and she did so we are back in business.