Swing by the office next time you're in town and my team will take you on another tour of our great city and show you some HOT inventory!

I can borrow a very small amount from my 401(k) at 2.25% interest for a down payment or purchase, but given how hot my local market has been that won't get me very far until I can learn some alternative strategies.  

This Valley is Hot!

So, in a hot market the seller will look first for a cash buyer with no financing contingency, second for a buyer with approved financing from a conventional lender, third from a buyer who has been qualified by a mortgage broker, and last, i at all from a buyer with a POF from a hard money lender.Of course not all sellers, or the brokers representing them are sophisticated, so if you make enough offers you WILL get some sellers that accept you POF letter.Just to show you how meaningless these POF letters from hard money lenders really are, about 8 years ago a number of lenders published a generic POF on their websites, and told potential borrowers to download the letters, fill in the blanks, and they had an instant proof of funds.  

My wife and I feel electric is more dangerous because the surface could be hot long after you turn it off and you are more likely to burn food because you cannot control the temperature as well.We see valid points on both sides of the argument so would like to know what you all have in your rentals and for what reasons?

Dan Butler and @douglasskipworth run an impressive property management company here in our HOT market of Memphis!

This only works for hot market with multiple offers after a week of listing.

Some operators can do it faster, especially if they are pre-leasing and the market is hot/competitive.Maybe on the spreadsheet, or could see if lender has one, depending on what you're actually looking for.Yes, there are def specific lenders out there, as ALF itself is a niche and you add construction to it and most run away.May be able to pull some information from lender regarding the market specific questions on operations/mngmt and construction companies, and the typical percentage of total revenues charged.

Readily apparent good deals show up on the MLS from time to time, even in a hot market ... the key is speed to get your offer in fast and lock it up before your competition does.There are two other ways that I'm aware of to get good deals off the MLS, one which is unscrupulous IMO and the other that takes some vision.1)The unscrupulous way: you bid the property at or close to asking price, with no intention of closing at that price.

I currently live in Dallas tx but its a hot market, I have been looking in to Killeen tx or Rio Grande Valley Area, Also Memphis TN.