The other financed properties reserves amount must be determined by applying a specific percentage to the aggregate of the outstanding unpaid principal balance (UPB) for mortgages and HELOCs on these other financed properties.

I'm confident you can find some good deals and make some outstanding connections.3. http://www.oklahomacounty.org/assessor/Spend some time searching property records in the County you desire.

@Frank Geiger the plan is to fix the home fast so we can rent it out ASAP and stop the cash bleed.The issues:- I have two full time high paying jobs and little time to work on the home- My wife is 8 months pregnant (enough said there)- We do not have enough in savings to just throw money at the problem (see the bad kitchen remodeling decision for reasons why we have no money)In reality, we’ll keep chipping away at the house until we get to a point where with a month or two months worth of mortgage plus utilities we can hire someone to complete the outstanding work.

Hurts sellers credit.Seller tries to buy a new house but cannot qualify for a loan as they have an outstanding mortgage in their name.

A 20% cash on cash return would be outstanding, IMHO. 15% more realistic.

The seller's attorney will write a check out to the bank for their mortgage payoff (I'm assuming its not underwater), write any checks necessary for outstanding taxes, conveyance taxes, recording fees, legal fees, etc... and then write a check to the seller for whatever remains.As far as your wholesaling fee - that all depends on how you structured the deal and the contracts with both the buyer and the seller.

Paul,That's outstanding, Im curious as well about what areas.

Since then, and before I consider any investments, I am using the addition income from my job to pay off all outstanding debt and then saving for a down payment with an FHA loan, and funds any necessary repairs.To be clear, I am not looking for any get rich quick scheme, but looking toward building a more stable future for myself.

This site is outstanding, I am especially enjoying the podcasts, they are really keeping me motivated while I am learning how to get started.

Your experience is outstanding and you've clearly paid your dues.