Would the 9-year balloon concern you, knowing you'd need to refinance or pay off the balance at potentially higher market rates in the future?

Using local hard money lenders usually works best.

The challenge was balancing the relationship between landlord/tenant and a personal/friendly relationship.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

First post here! Am excited to venture into wholesaling and I've been educating myself on terms, technique, and form of going about it. Just struggling to find any good leads with not much access to mls and other paid...

Yes, You can buy and asset, fix it up and rent it out to make money without you physically having to work for the money. 

I just never knew how to get in and working the 9-5, kids, home, etc took my time.

I used to live in the lower mainland but invested where the numbers work like Vancouver Island or Northern BC.

They said they would but wanted the park's balance to be discounted.

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.