The borrower should pay all the closing costs.I also agree with Justin Hughes about cringing when I hear Craigslist.

Aside from the affadavit stating that he intends to occupy the property being qualified for owner occupied financint for at least 12 months, nothing...but this is only a temporary residence while he looks for a new home...Regards,Scott MillerOriginally posted by "Justin":He's planning on living in the 2-family.

Justin here,Very nice to be a member of these very resource and information rich forums.

Justin - I agree with you completely.

Hi everyone, My name is Justin and I'm an investor relations manager for Seneca Commercial Property.

To extend Justin's comments a bit.If a seller accepts an offer they more or less take the property off the market.

This is endemic not just in the San Jose area.A colleague of mine was sharing just today that he has a listing in Fremont.

I then take 30k out as a H.E.L. and put it on another home that cost 160k(now that mortgage is 130k) and I repeat this every year.If I have say 15-20k in the bank just in case of vacanies or other expenses, why doesn't this make sense????

In an earlier thread I was asked by another boarder to give my opinion on the new book "Making Hard Cash In A Soft Real Estate Market" by Wendy Patton and Justin Ryan.I just read the book and found it to be an easy read that had some good information.

I had a HML lined up just in case to jump in at the last moment.