One is in the final stages of being rehabbed and the other is done, waiting to be filled by a tenant.I just applied for a refinance mortgage for the two properties and was denied due to having insufficient income to support the loan.Personal income is ~$40k/yr Rental income on these two will be $1675/moA good deal of cash reservesFICO ~640 ARV of both properties is ~$160k , looking for $100k in refinance (62.5% LTV).I'm waiting on the 'official' denial letter but did get a call from the branch manager stating that I was denied.

Is the POF "form" you have some letter from some Internet/transactional lender?

I HAVE GOTTEN A LETTER FROM MR PETER CONTI, AND JERRY NORTON ,I NEED TO KNOW HOW TO PUT IN MY PASSWORD .SO I CAN GET STARTED.

Here's my current investing thought-line... when investing in 50-300 unit apartments with the 10/30 (is that how most people denote the 30 year amortization with the 10 year balloon?)

They're loaning you money to buy with a balloon payment.

Most agents will want proof of funds or a pre-approved loan letter w/ an offer.

Since I have to run the streets of Houston for my job, I have been writing lots of letters to homeowners on tax appraisal lists, I get out and talk to neighbors and I take pictures and try to do some comps at home.

There are investors here who purchase hundreds of houses a year and they blanket the area with letters, postcards and walk the streets.It's a tough market but if you jump in and keep at it you will be successful.

But, because of some new Texas law that prohibits Balloons with owner financed deals, the next best option for the rehabber was to do a lease option which the seller accepted.

The first time, I did expense basic office supplies (printer, letter head, etc) and even an education seminar.