A relative who does long-distance real estate investing told me that I have to sign the final loan document and the transfer of ownership document in person.

They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan. 

Please let us know if you finally do it!

Hey everybody, I've been listening to BP podcasts for a couple years now, and I'm excited to finally get in here and start accelerating my learning and meet some like-minded people. 

We do not factor in capital gains tax in our final net profit projection Hope that helps!  

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

That window of course has not yet opened due to the fact that the new plan is not finalized.

I have been listening to the podcasts for years and have finally gotten serious about making this move to better my families situation. 

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

Finally my third piece of advice for getting started on wholesaling would be to meet cash buyers like myself and add them to a list of cash buyers.