I have heard our goal should be to pre-screen so well there is no need to hand out more than one application per vacancy...if we remember to bring it.

Ideally I would like to get to 10 smaller single family homes in the next 5 years. 

[Remember, Rent-to-own* Contracts are supposed to be more advantageous to the Seller than to the "Buyer", meaning that the sale price should always be higher than current market value!]

I do remember this.

Hello Michael Davila I agree with Harjeet Bhatti ideally you would want around a 70% loan to value for that one house, if it is the only house in your portfolio.If you have multiple the 70% rule I would expand to the entire portfolio.I am currently in the same position of trying to leverage equity in my first home for another deal.Let me know if you need help with anything and happy hunting!

You need a few things, cash (see above), good credit, a little discipline, and some serious guts (I remember sending the first wire transfer 😮).

You need a few things, cash (see above), good credit, a little discipline, and some serious guts (I remember sending the first wire transfer 😮).

I deal with inspector in NYC and Westchester County and you tread lightly and sometimes you can't do anything about it. 

Some of the people I deal with are very confrontational, others we have a drink and write checks to make the numbers work out regardless of the paper work.I'd say if there is a good level of trust why doesn't the borrower just pay you for Y note from the proceeds of the sale without anything extra on the payoff demand. 

(remember all the areas they will be representing you ... legal, customer facing, financial, contract work, ... etc).