I have started improving my credit as of late but im still a "Novice" in the topic.Recently, I picked up Ramit Sethi's book "I will teach you to be Rich" (Cliche title but you get it) I'm only a couple chapters in but it dawned on me that my upcoming flip has a rehab budget of $60,000.

What happens in the rehabbing industry is you get novices trying to make a profit .

Assuming I raise money for one contract ($260,000) and the house sells for $400k, I'd come out with $5,200 on the front end and $4,000 on the back end.As you all can tell, I am a novice at this.

Just a good wake up call to the novice landlord.

Mike, The thing you have to remember with a large national bank is 1)when they offer a financial lending package they have to lend that throughout the whole network, and investment property is vastly different in 1 area as opposed to another, which leads to point 2)big national chains do not have the solid infrastructure in place to regulate the writing of those loans, because every one must be personally reviewed and rated as what, 9 out of 10 will be would-be novices with inaccurate numbers or actual cash flow well below there foretasted, that means a commercial lending agent will get swamped in new applications which will overload there system, and there in mess with there current commercial lending, possibly loosing accounts.

I'm a complete novice and will likely never make real estate my primary business.

I’m a novice buy/hold residential investor but asking a question for my mother.

That's what I believe is going on - the new bank is holding the funds in their account, so there are no funds to forward to yours.Bad/novice business planning, yes.

I'm noticing a lot more novice investors getting into STR because they see a tik tok about how lucrative it is - but being someone who invested in Joshua Tree in 2020 - I can tell you that the numbers don't work out so well these days.And for the record - I don't think Joshua Tree is a very "liveable" market.

I am a novice at Living Wills and Trusts, but I need something to protect my family.