Remeber you are going to have to continuously manage this campaign so you need to keep things as simple as possible for you to make management tasks easier. 

The borrower must front the cost of repairs and then be reimbursed from the rehab escrow account at each of the five draws allowed.I think, with the current mess, they'll bring back the 203(k) loan for investors, but with more oversight features to (attempt to) avoid the fraud associated with investor loans.By the way, the news is that 50 new FBI agents have been added to a task force in Southern CA alone to address mortgage fraud.

If you have enough properties (or a large enough single property) to make good use of employees, I feel it is the smartest way to operate...as long as you A) LIMIT the types of work (to minimize injury risk...a worker's comp experience mod increase can put you out of business); B) pay what is necessary to attract a WELL qualified employee (NOT your typical "handyman"); C) are an efficient project manager, or are willing to delegate that task to the employee...and generally support his decisions/timelines.If you try to micromanage...you will have turnover, which will be more costly than hiring a contractor.

hello all, i must say i have to agree with the rest of the crowd here, but i also must say i agree with your concerns jeff88the lawyer i'm thinking about using charges $320 per hour, so you can just imagine how that fee can add up when drafting and reviewing contracts, especially with me because i'm focused on commercial real estate investing (were everything is in more detail and etc)so i guess you have to find a lawyer that you can trust and that will agree to do certain task like contract review and etc for a set price, so that way you'll know what your getting into (well what the final price will be). because the worst thing is get some huge bill for something that you know probably only took the lawyer an hour to do, but they jack the bill up to get paid more.

Getting the spending in control is the tougher task.

I'm fresh out of high school, some roadblocks are social life, (too distracting for me to stay on task), no real life experience, (getting a job, getting an apartment), not having a car(will have a cheap honda civic soon though, courtesy of my parents), all the negative feedback around you for not going to college and going for real estate, and having people not take you seriously.

Be sure to utilize the newer 1/4 turn stop valves, and braided stainless anti-burst flex lines and washer hoses, if applicable; and use ball valves for main and any branch mains.

I am not anti-realtor.

You could find a private lender to antie up, but they'd have to be willing to stay in until the wrap matures.What I do instead of a wrap is a $1 2nd mortgage that states the 2nd can not be paid off until the 1st is paid.

I just hope God has a big enough task list to keep up with him. :-) Tim Wieneke