My plan goes something like this:Get a preapproval of a traditional investment mortgage with 20% downpurchase condo or similar priced home (going condo route seems to be the most affordable in my area for a first investment unless I can find a good deal)If repairs are needed get a construction loan or find a hardmoney lender to finance property and rehab cost as long as loan is 70% ARV (seems to be a standard and will allow for profit making)fix up the property decide if it is profitable to rent and refi or sell and reinvest the proceeds^^this is my ROUGH plan.

I think the most important thing is the number of weeks of occupancy you need to cash flow the property, work backwards from there to see if the traditional vacation market will support the numbers, anything on top of that is just icing!

If I like it, I pull the trigger on the deal with cash and a traditional loan.

After the 5 years can they get a more traditional mortgage or is it 5 year after 5 year after 5 year mortgage?

Commercial rates are a higher than traditional mortgage rates but it is the best way to expand your portfolio as there is no limit to the number of properties you can have and there are lots of different types of loan products out their to fit whatever your strategy is.  

Hey All,  We run a traditional Real Estate purchase and wholesaling company and do mostly traditional direct mail marketing but have been trying to do more and more on the internet.  

I'm working with a local lender that will finance up to 10 traditional mortgages that meet Fannie Mae/Freddie MAC guidelins.  

From what I'm told, traditional financing is hard to obtain with challenges like this.

I used non-traditional funding because the place needed rehabbing, and was empty.

I've been trying to develop relationships with active wholesalers in the area who are finding distressed situations and finding buyers outside of the traditional routes.