, plus all of the banking and bookkeeping features.

I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.

You could get a loan from a local bank or private lender to fund it

My though process in undercutting the bank by 1 % was to possibly attract qualified buyers.

Traditional bank loans can be slow and have strict requirements, while hard money and private lending seem to offer more flexibility.For those who’ve secured funding before, what’s been your experience?

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

Most banks won't want to come in with a line of credit that is second lien on the property.

@Hank Bank where are you located?

I did all of my loans with small local banks in my area and was always happy with the rates and service.