I am using Homepath financing (at 5%, 15 years) through my credit union and they are asking for 15% down, plus I'll have to show them I have 7% of the sales price in cash reserves.

I guess I am used to the construction model of go where the work is.. this is probably a question I need to get figured out.

Since I am using HML they will have a 1st position lien on the property, so can I secure the $30k with just a personal guarantee?

I am using a SDIRA and all the legal advice I got sounds like you are on safe standing, assuming the 401K falls under the same rules.

I just started 6 months ago, have ramped up to 1,000 letters per month and have had 1 deal under contract and fall through, 1 currently under contract, and 3 off market short sales I am currently negotiating.I am using dirtcheapyellowletters.com to do my DM.

Hello All,I'm new to BP and am using this site as source to educate myself about REI.

Yes, I am used to the traditional situation of having an executed lease agreement.

My long term goal would be to replace my and my wife's incomes over the next 20 years.Right now, I am using Bigger Pockets to learn all that I can and possibly find some of the meet-up groups in the Dallas area.

Right now, I am using Bigger Pockets to learn all that I can and possibly find some of the meet-up groups in the New York / Connecticut Area.

Technically I am going in with cash but am using the 50% rule as a guideline.