What ever it is I’m over it and ready to make some deals..Now I realize that the market is a bit screwed up right now but I know one thing a good deal is still a good deal and I find them weekly, I just need help securing them.First things first I pay almost $800 a month for rent and storage and that’s ridicules, I don’t have to much cash because all I have to buy and sell with is about 5-8K and without it I can’t operate plus I’m sitting on 10k in inventory.

They need not worry about unpaid electricity bills, unpaid rent, and other problems so common in conventional leasing.

just to follow up - the seller was taking no less than 295k and only conventional or cash.of course we didn't find this out until after second offer.

FHA financing is out of the question and many conventional lenders also have seasoning requirements.

As of right now, inventory includes: Detorit, Memphis, Florida, Saginaw MI, Houston, Arizona, Ohio, and Indiana.Hope to hear from you all soon and continued success!

If you have a score of at least 660 then a conventional NIVA (no income or employment with verified assets) may be available.

So I tried calling a couple of other agents looking for someone who is proactive and knows the inventory and the areas.

Hello Trevor and Peachstate.. you are correct, Conventional lenders will not do assignments, Your end- buyers need to have a hard money lender to do these deals. most of them will allow the assignments.. you also need a title company that is familiar with these type of deals.. you need to be screening your buyer(investors) if they do not intend on closing with cash(Hard money) its not worth it!

We are adding conventional loans to the residential side very soon.

Now as I said, FHA has put into place procedures that prevent double closings and so have many conventional lenders, but this is not a law.