Makes it hard to even think about conventional buying.

Mailers.Buyers want inventory or first crack at the best off market deals.

Some of the advantages I see: - We wouldn't need to put 20% down for a conventional investment loan. - I may be able to capitalize on any first-time home buyer incentives he gets. - I would trust the tenant. - My partner would be conveniently located for updating the property. - There would not be a rush to flip the property.Questions: - Would I be able to collect any monthly income, or would I have to wait for sale of the property?

Instead of attempting to keep a borrower on the constant edge of failure and earning less, it's actually more profitable in the long run to advance your borrower more like a partner than a servant.Many borrowers also assume they can't get conventional financing, while I know some HMLs point them in the right direction, I'm sure there are just as many who would allow that borrower to continue thinking that the HML is his only hope.With that, if HMLs were to address a better standard of ethical and moral conduct thier public standing would certainly improve, being known as a specialty lender than a "hard money" loan shark.

Get it fixed up leased up and refinance it into long term conventional type fixed rate financing. pmt of 90k less then 600 bucks pmts a month. 4 apt at rents of 600x4= 2400 per month leaves 1800 to pay your management costs and prop taxes and insurance.

Even with conventional financing, your ROI actually goes DOWN because the cost of debt is higher than your ROI.

I accepted a lower offer because it was conventional to avoid this 90 day waiver not honored headacheDuring the summer I had Lorain national bank (small regional bank) refuse to honor the waiver.

Jon, kidding about 100 ARs, while I'm sure something could be worked out with a dealer, like financing inventory, probably not a viable time/effort investment.2 acre lake sounds like a good swimming hole, will your dept. of natural resources stock it free?

Having the credit check in place and screening out poorest credit buyers helps too but if they could get a conventional loan they might not be knocking on your door for a deal anyways.

It also seems that because of the new Convention Center, SoBro (South Broadway) seems like a hot area as well.