The best way to defeat this objection is to rely on the resume of your JV partner and a strong builder track record.

We live in a vacation city in the mountains of NC, robust tourism, and around 4 million visitors annually.  

Client may reapply after first funding if additional funds are required for the venture or to cover additional expenses.Joint Venture Split – 73% Principle / 27% JV Partner.The JV Partner is actually bought out upon funding (out of proceeds) and client has 100% control and ownership of venture moving forward and net funding amount to client is historically 10 times the down payment amount.Current Point Charge = 10 (points are rolled into the funding amount).Submission Requirements for consideration/approval * Executive Summary with principle resume and Proforma – principle must have successful track record

Where I'm at, anecdotally, I have found that 'college rentals' seem to confer some sort of self-perceived 'status' on the owner, and they are much sought after possessions, usually among highly educated but otherwise strangely naive people.Around here, I think flipping is dead or dying, and if a potential college rental does not cash-flow immediately, it is not a good deal -- except for a few local PhDs who wish to add 'landlord' to their resume, and still do not understand money.I do not buy for appreciation, unless I can force it.

This is the most basic of the provisions that should be in the instructions, but it usually is much more robust than just that. - a closing protection letter from the escrow agent. - a Promissory Note between you and the Borrower stating the amount of the loan, the amount of interest you would earn, the amount of points you would earn, the time period within which the note must be repaid, and the remedy for not repaying the note on time. - you may want to have the Borrower pre-sign a Deed in Lieu of Foreclosure in the event the note isn't re-paid as agreed to in the Promissory Note so you can avoid the foreclosure process.If you are loaning for longer than one day at the same title company: - a decent spread - maybe 80% - in the value of the loan you are giving and the current value of the home (NOT the ARV). - homeowners insurance on the property naming you as additionally insured - an appraisal that shows the value of the home, completed by a licensed appraiser - an inspection that shows all the flaws in the home not necessarily revealed by an appraisal - a statement from the county assessor's office showing the most recent assessed value of the home - a copy of the HUD1 settlement statement - a copy of the title work runThe last two items you won't get until closer to closing, but the previous items can help you evaluate if you want to do a deal in the first place.

Resume/nw/liq.

Your Profit and Loss Report is your Resume!

.),  we will accept a lower score, especially if regular payments resumed with 1-2 yrs. 

But they also offer stability and a chance to build robust systems.

I have operated a robust wholesaling business in multiple markets for over 10 years now.