Am so TIRED of trying to explain this to naive newbies who think they need to buy Class D rentals because that's all they can afford and S8 is going to solve all their cashflow problems!

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

Each program is a little different so it just depends on your situation and income.They are quick and easy though once you get your certificate you can work with any Bank or Lender that is approved to use those DPA's.

When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

Munoz was beyond thorough in explaining our credentials. 

Flipping is just using a banks money instead of a customers money for us. 

If you are in an LLC and looking for better rates and longer amortization terms, I recommend networking with local and community banks. 

It would be far simpler to put the $500,000 in a bank account owned by the LLC and you immediately own a fixed percent.

The way I countered this (still not as good as buying a note with idle cash but I have checkbook control) is the money paid out from a note fund I invested in is at Axos bank.

In my land Timber days we just used bank LOC's but success in logging and creating substantial income allowed us to get those lines.