I know Real Estate but my knowledge for the most part lies within the wholesale arena.

,Most banks want you to have skin in the deal, and most will ask you is the down payment borrowed money, and you don't want to lie that is consider mortgage fraud.

It seems like I am losing houses because of investors lying to HUD and bidding as a owner occ. before the 10 day grace period is actually open to investors.I know this happened recently because I spoke with the winning bidder as I'm rehabbing the property next door.So I ask this question.Am I foolish for being ethical and waiting out the 10 days ?

It's hard for me to lie because i have always been an honest person, however I don't want to keep losing out either.

Hello everyone, I am hoping to get some feed back on a rental property I am about to purchase.Purchase price: $7,000.00Taxes: $975Repairs: $28-$35k (depending on how much work I personally do, it could be substantially less)Rents: $800-$900 / monthI am not going to lie, this is not in a highly desired part of town.

And do people run into problems with smokers lying to get the place?

You aren't lying to them, because that's what you will be, the property manager.

Welcome as a follow Chicagoan, always love seeing others on here.I will say there was a great blog not to long ago about the "Myth or Lie" of wholesaling on here.

I feel I was lied to because he had a broker associate who wanted to buy the house as an investment.

Wondering if anyone has experience with canine liability insurance policies as it could save me from a turnover, keep good tenants (except for their lying on the application about the rottweiler, of course) and would be a good option to offer future tenants as well.