Servicer's are very slow with loss mitigation and by the time a short sale makes it through the loan modification process, in many case, several months have gone by reducing the upside for the lender.

I would then negotiate from that point a profit split with 50% being the absolute highest and worst case for YOU.As to HVAC system new for 1200 sq. ft, a 3 or 3.5 ton is more than sufficient and you can get that done for approx $6k, although it can depend on electrical modifications necessary, electric panel upgrades, gas lines, and ductwork materials.If you are in So CAL, I can get you a good HVAC contractor.

I may be very vital against myself on the numbers, but the numbers have been updated in the posted spreadsheet and look like: ROI16.0%Cap Rate10.0%Cash on Cash12.1%Debt Coverage Ratio1.82Expenses / Income Ratio54.6%My cash flow for 2 doors is: $2,570.96And that's with the following expected expenses:- Vacancy13%($1,872.00)Adjusted Income$12,528.00Operating ExpensesMonthlyAnnual- Property Management $120$1,440- Property Taxes$120$1,440- Property Insurance$80$960- Maintenance$1,500- Utilities: Water$100$1,200- Miscellaneous Expenses$300.00I think I'll learn a lot from my first deal, and I'm ready to write a long story about it AFTER I close.

Which wouldmean that the modifications of existing loans and providing seconds or piggy back loans will be for qualified owner occupied only.

As a condition of the sale IMB HoldCo also agreed to continue the FDIC’s existing loan modification program.Originally posted by DeuceSevenOff:I'm not quite sure how this would work unless the deals were SO good that there was tons of room for margin for error.

Property values in the 90's were escalating so fast the bottom had to fall out.The ailing Home Affordable Modification Program (HAMP) may be coming to an end.

There are a few points that need to be cleared up.With certain types of short sales such as FHA they give sometimes up to a 1,500 relocation assistance to the owner to move.I had one with the credit and it was used by the seller to cover back HOA dues so the seller still didn't get any money but would have if they didn't have the HOA cost.If she only owes 3 months of mortgage she can milk another year of free rent if she knows what she is doing.She can also do a loan modification to see if the new interest rate would give her a lower payment.Is she just on tile for the home or is also co-responsible for the mortgage note??

Good to notate if you were to do a loan modification with the owner and re-work out new terms.

According to my friend, she and her husband DID call the 1st (GMAC) - five times in two years - to try and get a loan modification, refinance or some sort of change ... ending where they are now, confused, concerned about their future and in the short sale.

Anyone care to share any experience if this pool is really vital for my ARV or not?