Here is our situation:ARV                       $110,000Purchase Price       ($58,000)Projected Repairs   ($15,000)Profit before soft   $37,000Our deal appears to be a home run before considering the soft costs.

My soft hearted wife insisted we split the difference.

Thanks, I was thining 10% & 2 points to any private or soft money lenders that want more information and considering packaging them as one deal as each needs $10-30k...

Now it's going to be tougher for a lender to let this slide for any of a few reasons depending on the lender1) when many lenders quote their loan to cost (LTC) they exclude certain soft costs from allowable costs.

@Robert Tumulty Methinks you’re too soft.

I always tread very softly and try to remain on their good side while their in control of my investment.

There are a number of ways to have it YOUR way when investing - Ask the seller to loan it to youDo an installment down payment agreementGive the seller a note - pay him a percentage of the rent you will be collectingGive the seller a post dated check - post dated for 2 yearsOffer a blanket mortgage on another property you ownAsk seller to repair something (we call it the"Front Porch clause) instead of him doing it, he gives a check in that amount ($50,000) that it will take to do the repair - you endorse the check and give it back to him as the down-payment.Borrow SOFT MONEY on another property you ownBring a limited partner in on the deal - they borrow money on their property - you pay them back over time with a nice interest and don't forget a buy out clauseAsk your girl friend, your Mother or drinking buddies - offer a free apartment for a limited amount of timeAsk the owner to finance 100% of the deal - keep him in as a limited partner Offer 20% more for the building if the seller will take back a principal only mortgage (that is without interest) offer a balloon payment and split notes.Ask the seller to let you manage the building for a year - collect the rents and make improvements from the rents receivedOwner financing with split notes (details on this to come)Proposal to the owners daughter - make friends with the seller's wife - let him know you really want this property - beg for help - tell him you are a nice person - just getting started Offer a Hybrid offer - offer less - improve the building and give seller 20% of the profitsTry a Delayed Settlement with right of possession and subject to the mortgage - you make payments until settlement 1-2 years later.

At some point the government will default and it is either going to be foreign investors or 'better' yet on social security,Medicaid and Medicare; and other soft targets. 

I was doing a soft pof as a preliminary...investor quoting the bank and banker., type of funds sometimes the account...Now I do believe that many are wanting to know specifically up front from a banker not to waste time or hold up anthing....anyway, thanks Christian

A lot of people have gotten soft!