I was just in a kidding around mood last night. ......Listen here's what you do.....look for a lender that does loans based on what's known as "Stated Income".

That way you always have an exit strategy just in case.

Originally posted by "REI":Steeny,My comments on the carry trade were not directed any you or anyone specific.Sorry, I'm just in defensive/oversensitive mode here.

I'm Justin, 21 years old from McCordsville (just South of Fishers, IN).Now, I'm aching to do my first deal.

i'll save the wholesaling for when i have some extra money put away, just in case i screw it up (probably bass ackwards from the way most people do it)...

Its hard to gamble with downtown right now when there is some very strong potential just in the normal market.And when you state that the current projects are doing fairly, if not very, well, I think that is very relative also.

Now one of the investors I know in Atlanta says that his attorney requires that he have the funds to close on a double closing just in case it falls through, but he didn't mention that it was a legal requirement.Now if the buyer doesn't end up closing I could see where there could be some legal ramifications if you don't have the money, but I have doubts that there is legislation against it.

Hi Justin,This is just my opinion here.

Thanks, Justin.

@Justin R. it depends on what you're looking for and willing to pay.