Unlicensed "brokers" do receive commissions all the time as enforcement is near impossible.

Without somewhat of a track record, I think getting any sort of 'big money' type financing (like not hard or private money) will be really hard if not impossible, but probably still worth trying to find out more about local requirements for institutions in your area.My credit line, as I said, is guidance line of credit that then has individual notes and deeds and trust underneath of it on individual properties that it funds.

I know the market is impossible to predict and I also know that prices aren't even close to a 05-06 market was so maybe I'm thinking incorrectly.Thanks for any repsonses!

I am finding out that securing a home equity loan from a bank in the area is near impossible, as no one is living in the house and no one will insure the house.

NYC is a very competitive place for REI, but not impossible.

The down payment is flexible, 10% down is common, it's not impossible to do 100% financing, but it needs to be reasonably secured and with a borrower that is capable of paying and that would really be to an investor, not a homeowner.There are tons of posts here about seller financing, pre and post DF, read them and understand where the info is coming from and when the post was made in relation to DF.I did mention in another post that one might be creative in extending an amortization to offset other matters, I should have said within limits and under prudent origination conditions, I feel that I may have set Dion's mind in motion, pushing him over the edge into a philosophical financing black hole. :)

Also if you purchase the second house using the above technics and at say you located a deal where the property values are : 50 cent on the dollar (not impossible just take many hours of research) than you can do the same exact thing again and buy a third house "house C " and using the second house "house b" for the down pay.

@Timothy Edwards - there are many ways to hold and finance real estate and it's impossible to speculate which would be best for you without knowing all of your finances and what your goals are.If you want to purchase a property in an LLC, you will not be able to do so with a residential 30 year mortgage (at least not one backed by Fannie or Freddie).

Some people put 10 in the husbands name and another 10 in the wifes name so they can do 20 Fannie loans. i can get at most $1125. it's a 3/1 brick ranch in a great area, around 1050 sq. ft. it would take about 2 months until i have tenants and i'd have to use realtor.i have gotten mixed feedback on "wife's 10 and my 10". some people said "if you file taxes jointly, you are allowed just 10 total". so i dont know the true answer.i know i can get up to 20 Homepath homes, but the prices have increased and unless i get a great deal (working on one now), it's impossible to get off the MLS anymore in the 2 cities where i stay.

If you have a lot of similiar sized rental homes in the area and the home you're trying to purchase a home as a primary residence, it may be difficult but not impossible since you'll really have to convince the underwriter beyond a reasonable doubt.