Also be sure to put in the contract the option to extend for an additional year.

For myself , as long as I can cash flow positively on the property, I would maybe ask the seller to extend the contract if it went down in value when I went to purchase it.

Funds to cover major repairs, extended vacancies or nonpayment, evictions and other legal expenses, etc.

Only testing will tell.So, start small, test, test and test some more and then extend your marketing net.

Well, depending on the type of note they run from about three pages to about nine pages ;)The term of a note to a rehabber should be at 6 months, if it becomes necessary you can always extend the note.The term should be long enough for the work contemplated and a reasonable time to sell or refinance, 6 months is customary but it could be shorter too.Some backward planning, if the market drops in November, you need to have the property exposed on the market at least 60 days, meaning the first of September it should hit the market.

found this site by accident today cant stop looking so much info I have had one rental for a number of years with good luck but ive always been nervous about extending my risk getting over my head im intrigued with flipping think its all the cable shows buying and holding something new is probably my comfort zone

I am out on the west coast all the time from LA area to San Diego visiting with our clients and taking my family for an extended stay is a priority of mine soon.

There is currently a tenant whose initial lease began with the owner who lost the property and was extended by the bank.Is there any specific law or condition that could possibly force me to honor the lease?

I know its tough on a new build, but may take a lower one on this since the lease for two of the units extend out until 2024.

Why not just extend settlement until the occupants are ready to give full possession?