Too bad I don't have his direct contact info; i asked him for his number but he'd only give his agents' numbers.If he does reject me for the duplex, then i'll put in a traditional offer for the Cape Cod...maybe.

@Christian Carson : I am from Shaker Heights, I would love to work my way up to a multiunit or a few in the Coventry area.

There are no fees, just a 75/25 split on any properties that I do, traditionally or my own.

is this for vacation rentals or traditional long term "live-in" rentals?

Logan,Everything Darrell said is true, I follow credit closely and spend time on credit boards,,,there are companies that will offer to sell you 'seasoned corporations" with great credit,,,it just doesn't work that way in today's environment.Banks will only lend money to people/companies they can show can pay back the loans (by law),,,work with a mortgage broker, hopefully one that does hard money and traditional mortgages, have them look at your credit situation and develop a plan to be able to move forward,,,credit can be destroyed quickly, but takes time to establish.andy

Greater fool theory in play here, somewhat.As of right now, the big money (REITs and Private Equity) are focused on B(ish) properties, just as lenders were traditionally focused on A-paper and Alt-A borrowers in the beginning of the mortgage boom.

However, the issue about getting traditional financing in the form of a mortgage is still of concern to me.The podcast did touch upon the fact that it would be a lot easier to get financing with a job.

My thought regarding what the investor is doing is that he is securing the property with his cash, letting the property season for the bank at which point he can get traditional financing.

The majority of real estate investors do it the traditional way, nothing wrong with that.

How much do your requirements change if offered seller financing vs traditional 30 yr mortgage?