My last deal for 2011Seller : Fannie MaeListing price : $35,000Offer accepted: 29,000Rehab: $5,500Rented : $700

Purchase price: $65,000Repairs: $32,000 (out of pocket due to Fannie 120% clause)Refinanced into a converted to a 30 yr conventional out of a hard money note.My current loan amount is $74,400I got it leased right now for $1,350 per month - and my note is $700 (PITI).

The big government lenders (the "F"s, Fannie, Freddie, FHA/HUD), plus large banks use agents exclusively.

But if it was me, I'd give the renter 60 day notice in April/May and aim to list it in June.

If the Premises fails to appraise for the purchase price in any appraisal required by the lender, Buyer has five (5) days after notice of the appraised value to cancel this Contract and receive a refund of the Earnest Money or the appraisal contingency shall be waived."

If property insurance lapses Lenders can do what's called "forced place insurance" on your mortgage.Generally the lenders buy the Cadillac plan that covers everything and escrows the payment into the total mortgage payment due.It is much cheaper for the borrower to have their own insurance then for the lender to force place it.He could always accelerate and foreclose depending on how costly and time consuming that is for that state.I would think foreclosing and accelerating the note would be the same motivation as when a tenant tells you a few more days and you will get the money and you file eviction and the money magically appears.It seems if he sends the foreclosure and default notice the buyer will know they are serious.

So as I notice Chris pointed out, team with an active investor, well, here is your shoot, an apprentice position as a Buy Coordinator, which in short is a wholesale coordinator.

I've noticed a trend on BP that whenever someone has positive comments about RDPD they are accused of being a company shill or a know-nothing newbie, even if their post is not particularly flattering of RDPD, as was the case here with Garrison's post.

He gave 12 days notice that he was moving out, with a voicemail.

Fannie guidelines get tighter when you aquire #s 5 through 10 properties.