BP I need your help!I have a property in Orange, CA that used to be primary residence from 2005 to 2009.   I bought it near the peak of the market and was under water in 2009 when we needed to move for a new job.  The...

I found him on Facebook and we started talking about the property and my interest in investing.

I ADVISE YOU TO ONLY QUESTION YOUR ROOFING CONTRACTORS ABOUT THIS OPTION GIVEN THAT I DO NOT KNOW YOUR ROOFS STATUS!!

So, I would say if you sit down and make a list of all the people you feel like you can approach using your phone book from your cell, your friends list from facebook if you have an account, or any other organization you belong to including family and you speak with all of those people you list and can't find any private money, then perhaps you will have to use a HM loan to do these deals and refi with a bank until you have built 1) enough cash to bypass the HM or 2) have enough equity/relationship with the bank to obtain an LOC.I didn't have enough to flip in the beginning either so I used rental  property to make equity and upon refi ing those properties bought on contract initially with a local bank I gained a large equity position in my properties that I used as an LOC to then enter the flipping market.Hope that helps ya out buddy!

IMHO - I would buy a $20k-$30k REO  built after 1945 and fix it up to rent ready status and then offer it as a turn key or rent ready property to a fellow BP member and list it on the MLS.Even if you break even, the education you get is well worth the effort and you will be so far ahead of the average new investor.I hope that helps!

Is there a status/any info regarding this and were you able to find any financial institution that was able to get this done?

Your podcast popped up on my facebook timeline a few weeks ago and that's how I discovered Bigger Pockets. 

It's a lot more convenient to not be dependent on another person.I do not believe there is any negative about placing an offer and disclosing your license status.  

Would be curious to know how negotiations went and what the current status is?

I'm establishing relationships with community banks because they're less concerned with my employment status and more interested in the return on our future investments.