Having friends with some money to lend you is also a key.There is no way to do this by going to a bank for a loan.

Hello all,I'm just looking for a little advice and I know that the Bigger Pockets network will have some great stuff for me :)  My wife and I just went and looked at a house that is bank owned.

I currently own one rental property with a bank mortgage that I purchased at 21 yo (just over 2 years ago). 

Hi Everyone,I’m looking into applying for a fixed rate HELOC and was wondering if anyone has any recommendation on which bank or credit union I should focus on?

Your best bet is to have your agent recommend a legit lender....require buyers to meet Their preapproval process (a real one, tax returns, pay stubs, bank statements, etc)....they don’t have use your lender for the loan, but meet their preapproval standards.

The bank is not dumb .

@Ernesto Hernandez, I recommend contacting the local banks that are near this particular property, and preferably the smaller ones.

Many banks/substitute trustees will contract to sell the home at public auction using auction.com.After the auction, if the home doesn't sell, it will become an REO property (means bank owned) and will be listed with an agent.

Most banks want to see that the NOI is at least 1.2 to 1.3x the debt payment.   

But you’re “banking” on the future and expecting to “make” money because of that solely.