I've been noticing in my city that newly listed home are having penning contracts super quickly.

Here are set numbers for my most recent sale purchase price - 105,000rehab - 28,000under contract at 178,000nearly 12,000 in fees.4600 Tax credits 1260 title insurance270.

Have a property under contract and sold to a cash investor who will rehab, great guy sold him a few properties requires property be vacant to close. 

In our contract it states if a lending issue occurs we have 90days to secure a nother loan .

I'm under contract on a 4-plex there right now and would love to connect with other local investors!

He’s either a wholesaler who just has it under contract, scamming you and doesn’t own it or the owner is listed as an entity and he owns the entity.Hard to say.

If all parties agree you can null the original contract and establish a new one.Alternatively, if there's no clause against sub-leasing then that could be an easy solution...just make sure the original tenant knows that if their replacement doesn't pay rent then they (the original) is on the hook for those funds.

The previous owner at best was going to make sure they got their security deposit out of the tenant, and at worse planned on skipping out on the last month or two all along.When money changes hands, then goods, receipts, invoices, contracts, etc. should change hands also.

Purchase Price $35KARV/COMPs $85KRepairs $23,750 (reimbursement based after each draw/inspection)HML Loan $49,937.50DWN PMT $8,812.50Lender fee $3500Processing fee $500Closing Costs - not yet ascertained ~ $2500 The initial numbers I did had this as a home run, but now not so sure and the contract has been signed. 

Hi, I'm currently under contract to purchase my first rental property,  a 6 family in Asbury Park, NJ and I'm trying to secure a loan.