“She will get a cut of the profits once they fix the home.”

My realtor linked me up with a lender and we applied for the VA loan for a 0 money down loan and we got into it for 3.875 APR, 30 year fixed for a total of $242, 548.

I am a first time out of state investor interested in buy my first rental property in Detroit that can cash flow after fixing and gain equity.

Most hard money works like this Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

But the buyer wants the property at zero down.First leg:-- Buyer secures a loan (1st position) for $350K and sends to title company (this is the amount needed to pay off sellers loan + their required cash at close)-- Buyer also sends $650K cash to the title company (can put in your own cash, or do a temp loan from a transactional lender)-- First leg of txn is now complete, and the $1M stays at the title company (this is bc you customized escrow instructions upfront to instruct them how to disperse money before escrow began)Second leg:-- Buyer and Seller enter into an agreement through an LLC which allows them both to be on title, and seller agrees to seller finance the buyer $650K of the purchase price (on whatever terms they agreed on).

The normal range is for the monthly commission is 5% - 10%, depending on the amount of total units and level of difficulty.

Do I call someone in the city or this is something I need to fix myself by calling a contractor who works with cutting trees down?

@Lucas Carl, When you talk about your cabin with a purchase price of $500k, I'm assuming a 25% down payment + any costs to furnish/fix/renovate as the initial cash outlay (for example $150k total). 

But have you or someone you know used them to fix and flip a property?

., 1 year)]Security Deposit: [Enter the amount of the security deposit]Background and Credit Check: [Indicate whether applicants will undergo a background and credit check]Rental Application Fee: [Mention if there is an application fee and its amount]Don't miss out on this fantastic opportunity to make our lovely single family home your own!