You can also tell them that a rate doesn't mean anything unless it's in writing and locked in.Just like trying to sell a property for a certain price a buyer can look for a certain rate all day long and it doesn't mean they will get it.Many in the lending business even if direct try to "re-trade" a loan.They get the buyer excited thinking they have found a better rate below market financing.Then get reports and inspections paid by the buyer and then drop the bomb saying the rate has changed for xx reason.The buyer is now stuck with costs paid into the loan process and doesn't want to lose the purchase of a property they are obligated to close on within a certain amount of time.When talking with buyers I always make sure they are realistic on financing.Trying for someone to get some crazy finance terms to make a deal work I know they are wasting my time trying to purchase something.With the lenders I look for people that take NOTHING upfront unless you close it period.I also look for length of time in the business and track record and referrals that can be called.A lender that has nothing to hide,hides nothing.Anything not to do with normal residential lending is like the wild west.Many of the fraudsters have gravitated towards hard money,commercial finance as it's not as regulated.

Unless you're really going into the wild you can get phone calls.

If you're buying 1.5% rule properties built in 2000 or later, I'd lean more towards running wild with the loans or whatever else from your reserves.

I don't want to be in escrow or do business with a wild card.

I wondered because when I look at the supposed market sale price for the same property, the selling price seems to be wildly out of whack with the actual asking price (the asking price is much, much lower).

Unless you get this for almost nothing I wouldn't touch it.The seller either isn't keeping very good records or is just saying that and hiding or skewing the numbers.It is especially important in low-income areas to have perfect books when selling as these areas the vacancy and rent collections fluctuate more wildly than tenants with fixed salary income positions.Talk to other investors about the area.Some areas even if you rehab the building the tenants pay for one or two months then do not pay at all.Some areas all the deadbeats live around there and none of them pay.Learn from other investors mistakes before losing your wallet.

The investor decided to get “wild” with the interior paint color - they went with beige walls and bright white trim!

I'm wondering what are the typical responsibilities/requirements that a broker might have or do they vary wildly?

Sometimes I come clean and other times I just go with the flow.Your letter's postmark to property address is wild (unless Jerry Puckett mailed them!).

Greg I guess they have wild justice in your area but here in Dallas the judges make the decision, and the judges do not like dead-beat tenants at all, but no one has protested against the judges here.Joe Gore