Hello, BP - Could any experienced investors speak on the ability, or availability, of using a private loan to assist in the down payment on a conventional loan?

Is there a way to private message on here so we can discuss it?

@Rebecca Cirisan  Stick with the original plan to wrap up the renovation and get that thing rented.For funding, I'd look at Prosper or LendingTree or open up to your personal network and find some private money.

I am presuming you are not taking a secured lien on real property (you should)...I would not do this deal unless you are prepared to reduce your 100k liquid to 5k and monthly payments of 833.33 a month for who knows how long.If I'm a company 60 days away from a 12 million dollar infusion, I don't put myself in the position of needing a 100,000 band-aid.  

Here are the duties that can be performed according to the FREC:Permissible Activities of an Unlicensed AssistantUnlicensed assistant is defined as support stafffor a real estate corporation or other licensed individuals.Answer the phone and forward callsFill out and submit listings and changes to any multiple listing serviceFollow-up on loan commitments after a contract has been negotiated and generally secure the status reports on the loan progressAssemble documents for closingSecure documents (public information) from courthouse, utility district, etc.Have keys made for company listings, order surveys, termite inspections, home inspections and home warranties with the.licensed employer's approvalWrite ads for approval of the licensee and the supervising broker, and place advertising (newspaper ads, update web sites, etc); prepare flyers and promotionalinformation for approval by licensee and the supervising brokerReceive, record and deposit earnest money, security deposits and advance rentsOnly type the contract forms for approval by licensee and supervising brokerMonitor licenses and personnel filesCompute commission checksPlace signs on propertyOrder items of repair as directed by licenseePrepare flyers and promotional information for approval by licensee and supervising brokerAct as a courier service to deliver documents, pick-up keysPlace routine telephone calls on late rent paymentsSchedule appointments for licensee to show a listed propertyBe at an open house for: o Security pulposeso Hand out materials (brochures)Answer questions conceming a listing from which the answer must be obtained from the licensed employer-approved printed information and is objective innature (not subjective comments)Gather information for a Comparative Market AnalysisGather information for an appraisalHand out objective, written infonnation on a listing or rental

It's asking for some very private information on-line and before I hand over debit/checking info with security codes and billing addresses I'd like to make sure folks on this forum have used it and have not gotten ripped off...thanks!!!

I wanted to make sure we're not missing anything before we close:Requested an estoppel agreement to be signed at the final walk-throughNew/updated lease will be signed honoring the previous termsRequested to see the rent rollWe have a copy of the leaseThe sellers agreed to replace the roof before we close; we asked for the roofers information to make sure they are licensed/will pull a permit, and to get information on the roof.Will confirm that security deposits will be transferredAnother concern/question I had is about paying cash for keys.  

Vacancy can be 0-25% depending on turn over and what month they move out.Maintenance depends a bit on age of home but I would use about 0.1% to 0.2% per monthCap Ex depends on traditional (.5% a month) or private money (1%)Sales Expenses:  6-8% for closing and realtor plus about 2-4% for holding costs

Other honorable mentions include:>Creating a secured bicycle room that offers a work station.

How can I streamline the Lending and still know I'm making a secure investment?