I'm curious as to the "financial institutions" you've talking to, were they banks?

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

@Erich OertelRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

And for investor to put up money for this is just financial suicide.. there was guys down in San Antionio doing this preying on non english speakers.. just a sleazy way to try to make a buck nothing to be proud of.

Thank you You are obviously a sincere young person looking at improving your financial position.  

It has been my path to financial independence, but I mostly am not looking in San Diego currently and I get many off market offerings daily (so even below retail the hold is cash negative).  

Selling could net ~$60K after costs, relieving financial stress and providing a reset for future investments.

The key is to assess your current financial position and goals.

Risk of Losing Multiple Properties: If the borrower defaults, the lender can seize all properties used as collateral, which can lead to significant financial loss.2.

I’m diving into the world of tract home development and looking to learn more about the financial analysis process for unimproved land.