When you go to apply in 6 months, they'll see you have maxed out your debt to credit line utilization of a whopping 60k, which will cause your credit score to take a hit and possibly jeapordize whether they approve you for a refi or not, or affect your interest rate they offer you at the very least.

Short sale to an investor who can generate a nice ROI before it's done in 26 years4. 4-5 other investors who want to share the unit and these expenses for the next 26 years.Expenses:Mortgage: $1600HOA: $450 per mo- includes exterior landscaping and lighting, maintenance for 3 pools/spas, tennis courts, security gates, private streets, sidewalks)Land Lease: $170 per moThe HOA (Waverly Park) recently passed a ruling for no vacation rentals under 30 days, however, my attorney suggests that should only apply to new owners and not me as that was not the rule when I purchased.

I go with nice durable higher end fixtures and finishes and apply my OCD to the standard of finish.

Hi all.I figure it's time to introduce myself, having lurked, watched several webinars and taken in 12 hours of BP Podcasts over the past month or so.Anyway, my name is Craig, I live near Manchester, England, and I have absolutely ZERO experience in Real Estate.However, having seen my uncle and his 2 sons do really well in RE, and having nothing in the way of a retirement plan/fund (and being 44), I figure it's time to get off my butt and come up with a plan.Having looked around, RE seems like the way to go but, like a lot of people, pretty much everything I have is tied up my home and , as we only moved to this property 2 years ago, we don't have a massive amount of equity in it yet.Therefore, I need to find out how much of what i am reading/hearing on BP actually applies to UK Real Estate for a start (obviously, things like the MLS don't exist here - at least not to my knowledge) and how I can start doing something in the next 1-2 years.I could go to my cousins for advice, but we've never been a particularly close family and I don't want to just turn up and start asking for handouts (any advice they give could potentially impact their own business, as they buy-to-rent in an area less than 10 miles from me).I would prefer to get in to buy-to-rent (or buy-and-hold as I believe it's called over there), as I have a full-time IT job, that I am not looking to give up any time soon.Also, if any other UK-based members have advice on the best way to deal with the banks, any specific rules/pitfalls over here, whether the auction is the only place to buy smaller, cheap properties that need rehab (every man and his dog seems to go there, though, thanks to programmes like Homes Under the Hammer).Anyway. 

The Safe Harbor rules you eluded to only apply if the foreclosing bank buys it, and did their suit properly.

another option I have done is take less of a sec dep but to have something so they can't apply all of it to last month. 

Also, if this is your first flip, you should apply for the show "First Time Flippers" on the DIY Network!

So your calculated effective overtime income if you apply for a mortgage with this jumbo investor in November will be approximately twice as high as it would be if you applied in April or May even though in reality you make exactly as much this year as you have for the past two years.And the net effect to a borrower of this, is that you might end up with a higher rate (if we assume that this jumbo investor happened to have the most competitive rates the day you went into contract) because some person making up a completely idiotic worksheet doesn't know how to math and some investor has a firm "no exceptions" policy.

I think that it is "standard issued"   I am just looking for a standard one but it must apply to rules in California.  

I am extremely motivated to learn as much information as that pertains to real estate, in the hopes of applying it in the years to come.