If you want to participate here, don't waste our time.

It seems to me that the time you are wasting not wanting to pay an agent, is money down the drain.

They'll provide answers to 99% of any tax questions you may have, and help you to be much more effective in developing strategy with your CPA.

I understand that a higher debt balance would lead to a higher effective interest rate but i do not understand how the loan term would change (unless the buyer opts for the same monthly payments before and after the capitalization of the closing costs)

What is the most annoying, time wasting, costly headache or issue you encounter in your day to day business as a private lender?

You can always hire a licensed mortgage servicing company, which may be a waste of your money, and they have accounts setup already.If/when your borrowers apply for a new mortgage, that lender will check with you regarding their payment performance and history which will be taken into account.

The rates are supposed to be effective on loan closing starting nov 18 2011.

I have the seller sign a Letter of intent to Lease and To OptionThe letter of Intent covers...Address, Rental Term, Renal Payment per month, Security Deposit, Possession Date, Option Sales Price (could new appraisal), Option Money (usually 3% or $5K min), Representations, Warranties, Covenants, and Indemnification, Legal Effect, Notice of Intent to Assign, Option Period (45 - 60 days)I have them sign the letter of intent (LOI), it goes to my attorney, and the attorney prepares the paperwork.There is an option release disclosure document that discusses that the buyer will be responsible for the following fee’s to be paid out of escrow at closing, which are for the release of the recorded notice of option, the assignment of negotiated purchase price, and the negotiated rent.2.

I wanted to add the cost I said for your kitchen is based on having to do primer and and 2 coats to cover the blue.With my units I am going over white that is worn down so I don't need as much paint to cover a larger area.Some nicer quality paints are mentioned in some other posts which I can see using in a flip or a really upscale high end rental area where the tenant demographic is different.For rentals I use paint that is cost effective and will pop and carpet that is made for wear and tear for the type of tenants I have.All they usually care about is it's "fresh and clean".

Tony, I think your only chance at finding a deal NOW is working with a broker who's already been farming for 2 years or to drive for dollars.I HATE driving for dollars because normally its a massive waste of my time.