VA loans are made at 100%, so it's a matter of risk to a lender, some first time homeowner loans can go to 103% maybe more for closing costs, but these are for owner occupied and they carry requirements to qualify.

Also scheduled for my carry permit (from reading a previous thread a week or so ago) and plan to stock up on "personal protection equipment" Land/Cash/Coins/Guns .... what else do i need?

Put it in a LLC and carry high limits.

But you're right too, an unmotivated guy is not the guy to have, I can spot them in minutes, how they carry themselves and get ready for a job.

You could probably get a contractor and pay him for an hour tour, explaining how the different elements play on other parts and how loads are carried....hmmm, maybe two hours.

I recently had to rebid a job to go from no-WC to carrying WC... the bid increased 60% on straight cost alone.

:roll: As I am in business to earn a conservative profit to compensate me for the risk in this difficult market, I must also consider the costs for acquiring, carrying, repairing, marketing, which total about [insert your cost calculations here], and eventually selling the property.

The Trustee is not an agent of the Mortgagee (Lender), as long as the Mortgagee (Lender) provides the proper notices to the Trustee, the Trustee must carry out their duty.

I'm sure if you'll poke around in old threads, you'll find lots of suggestions on how to evaluate your offer price, from people much more knowledgeable about flips than I.In general, there are formulas based on selling, carry and closing costs that go like this:ARV X 60% (or 65% or 70% depending on percentage of profit that a market will accomodate) less the rehab costs = MAO (Max allowable offer).

I have some friends who were doing huge volume of REO's as listing brokers but with robo signing listing volume went down and carrying costs were eating them up.Some had to down scale or pull the plug and switch to short sales as asset assignments switched to a trickle plus listing price dropped eating into margins further.