Ideally, one would use the LOC to purchase the properties and use their own funds to do any rehab work.Typical terms are:Rate: 9-14% I/O paid every month whether you use the money or notPoints: 4-6 lender points (paid from loan proceeds)LOC amount: 250K-2MTerm: 1 year with renewals and increases availableThis program has been met with a lot of interest and we have successfully closed deals under this program.

Here are the numbers:Purchase Price: 249,900 financed @7% I/O for 30yr termGross Income: 61,596*Expenses: 34,300NOI: 23,036Annual Debt Serv. 17493.The expenses portion is where we are concerned.

unless the NAR(national association of Realtors), the Home builder's council pad a few pockets in Washington, I don't think it will get extended.

I/O for 30 days if dealing with BoA; There are some other stips but I think it can be done.

Actual rate you’re currently paying Typical rates range from 12-14% I/O with 4-6 points with terms up to 18 months and extensions available.6.

IO and neg-am loans jumped from 1% of total originations in 2001 to 29% in 2005.

Take the time to find a good market and really learn the area.That first deal you describe is going to charge you too much for the house (30% markup), then saddle you with onerous terms (10% IO with a five year balloon).

LHN is available on verizon i-pad as am app---ONLY. hahahah.Rich

Well I have an iPhone and tried the IOS app but decided to move back to web mobile.

Io,I've been doing some serious reading, webinar watching, podcast listening, and forum lurking.