:roll:

I use my HELOC for investments and becuase of my "fear" of the lender reducing the limits, I have kept it maxed out, for the most part, rolling money from one investment to the other rather than paying it down and reducing interest, as that would be a point in which the lender could reduce my limit and I would no longer have that full amount available.

If you check his bank roll it probably did.

:roll: No worries.

After you have located an end buyer, is it your responsibility to submit the paperwork to the title company in order to get the ball rolling?

:mrgreen: :roll: Now I know this only creates a lot more work for Josh, takes up a lot more bandwidth and opens him up to angry artists when folks start using unauthorized uploads on their profiles....but it would be cool.

:roll: Thanks guys!

:roll: Thanks to all for the responses, links and questions thus far.

Loan/pro forma looked like this - purchse price on prop 135,000.0025% equity + closing costs (in money) +/- 35,000repairs loan = 55,000 (vandals got the pipes and it needed a few things)repairs costs = +/- 25,000 (balance to me as pay for management and painting and other little stuff)current monthly payment is about $750 per mo interest only until the 2 mortgages roll into one in Oct '09.

I would roll the rehab time/vacancy period of into the loan.