Hello,I am new to real estate investing and decided to go with Easy Street Capital as our lender for the DSCR loan.They already ran out credit and we went under contract on a property after getting the pre-qualification letter from them.I also got the Term Sheet from our contact Zach and the last page is asking us to wire transfer $2,500 to their bank account for the deposit.Is this common for private lenders?

It’s an open end mortgage or a.k.a debt just like a credit card.

She came out of a recent divorce with close to $1M liquid and a credit score in the 800's, has history as a successful GC/landlady, but after liquidating her previous rental properties due to divorce 2 years ago, no longer has recent income.

Cool tip Andrew!

I'd appreciate any tips or insights from anyone--thank you!

Pay Attention To Your Credit Score Although we don’t have any income requirements, we do want to know that you are on solid financial footing.

I have good credit, but not sure how to obtain financing with my current income so I am looking for financing options that don't require me to provide 2 years proof of income.My current plan is to do the following but would like a professional opinion before proceeding.

I've almost hit 2 years job experience for a conventional loan, I have qualifying credit, I've made good contacts with realtors and lenders from my Admin Assistant job in the loan world, and I've saved up enough cash for 3.5% down for SoCal SFR pricing (not enough for closing cost or commissions yet).

I noticed on the forums that many landlords do not find Zillow background check and credit check reliable.

One helpful tip is setup draws in which you follow a detailed estimate of which work will be performed and once that work is done you send out a payment.