Higher loan balances we would likely see an opportunity in the future to refinance again due to lower rates so consider a 2-3 year prepayment penalty.Of course if you qualify for Conventional Financing (Fannie/Freddie), there are no prepayment penalties so just calculating out the return of investment timeline on point buy downs.Good luck shopping and let me know if you want to talk further!

The 3rd party wasn't able to screen the applicant.

Im working on getting a duplex within this month using creative financing.

Fix and Flip -Requires a minimum down payment of 10% with 100% of the rehab financed. 

I am wanting to build passive income How did you finance this deal?

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

How did you finance this deal?

So I just rcvd a rental application from Zillow and the credit score is showing 714 which sounds good...

Have a few arms due in about 5 years..those I will finance to fixed rate as rates lower. 

Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?