Also, I mentioned this at the BP meetup last week, but here's a link to the "Monthly Skinny: July" posted by the MinneapolisRealtors group on YouTube.https://www.youtube.com/watch?

@Mark Smith Here is the skinny on FHA loans:* Down payment - 3.5% down min - you can do more, but it does not help with rates* Funding fee - 1.75% FHA funding fee to be paid at closing.

Also why do you think the profit potential is skinny?

However, here's the skinny...Purchase Price: $40kHOA Fees: 1800-2000 per YearTime: 2 Week Lock Off Premier TimeUnits: Studio with mini kitchen including cook top, 1 Bedroom with full Kitchen both balconies are Ocean facingRents for 2500 - 4200 per WeekThinking of purchasing for cash.  

I coach lease options so here is the skinny on FLIf you want to do one or two lease-option assignments or  wholesaling lease options, you're probably not going to get a lot of complaints from realtors and brokers about brokering without a licenseThe big thing in Florida is advertising properties for lease option if you don't have title without a licenseYou want to act as a principal not as agent for or as an agent; with license you can act as a principal and not "agent for" the department of Florida real estate want you to be licensed if you're doing lease-option assignments even if you are a principalIn a sandwich, staying in the middle, if you can have 3 months reserves in case the tenant buyer does not pay and you have to evict, that is prudent.  

Practice controlling real estate with a skinny contract subject to assignment.So if you control a property (using all the right clauses) for $100,000 and you find an assignee for your offer at $130,000; you make $30,000 without going to settlement, without a loan, without a hard money lender, without settlement cost.

MAKE OFFERS EVERY DAY.Attend rent court, and listen to the cases, meet landlords, make offersFarm an area (learn how to farm the right way, more on this in my next blog)Understand contract engineeringPractice Power ProspectingCreate and understand a "skinny contract offer"Have expired listing sent to you dailyKnock on the doors of sellers where their listing has expired....make offersGood luck............Charles

(You could be locked out......timing is very important).Some of the items in the file folder include;A skinny contract of sale...... this is a one page written in easy to understand language with only one out clause.

Looks skinny at best.

In the article I talk about items that might be required of you as an insured, how to spot and avoid scammers who are looking for easy "prey" after a large storm, and there's also a couple of links to information about how to properly board up your property and how to fight mold.The short "skinny":1.