Except the cap right, wich you just added an extra zero it is 8.87%.

I'm with Ohio Realtor on this one.I think the "change of policy" he's talking aboutis with his company.Anyone on this board want to contact this member?

I am looking into becomeing incoporated, but for now i just want to get an umbrella policy to protect myself.

Also, during a rehab do you need to carry a full insurance policy on the property while it's being rehabbed?

your objectives or goals to maximize subprime financing should be to maybe hold the property for 1 - 2 years, (You may have to eat a 1 o 2 year prepay but it will lower the rate from a loan with a zero prepay,)while you build your credit back to an a-rating, then refi your cash out for more investment projects. theirs tons of new products, on the market that fit your particular scenario, such as the option arms, option arms give you the luxury of choosing/paying your mortgage 4 different ways each month.. 30yr P&I, 15yr P&I, Interest only, or whats called Neg am(Negative-ammoritization)the neg am, could allow you to get into a million dollar home for like $3k a month, they have 1% start rates.. these loans are really good for short term properties, like a year or 2.. especially if the property is in a desirable market..

Most are happy to do this if they have someone but I found zero response or interest at 3% because they'd rather do one transaction at 6% than mess with FSBO's at 3%.

You're very welcome JennH.I'm from california originally, in fact I worked in Corona and llived in Rancho Cucamonga where we also experienced incredible appreciation rates.I know zero about the stock market except that anything I ever invested in I lost money on :( However, many of my friends have made money there.Fortunately, my RE investments recouped my stock losses :)If you do decide to follow through with land speculation, make sure you examine the land and have it surveyed before closing.

I am purchasing a fire/dwelling insurance policy to cover myself incase of loss.

Condo-hotel buyers in the Philippines dont even have to worry about interest rates because developers offer short term payment plans over 2-5 years at zero interest so buyers can immeadiately think revenue from the units they buy because they dont have to worry about computing income to cover the interest portion on a developers interest free payment plan.

if you added zeros by mistake.