Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods.

That's usually a result of a lack of market knowledge or management plan.I am one of the gurus - so I hesitated to get involved in this thread.

Please get involved in the community discussion and once you reach 10 posts, you will be able to post deals in the dealmaking forum or classifieds areas.For more help, please review the forum rules.]http://www.biggerpockets.com/forumrules.html

Is anyone here involved in these types of deals and possibly in the greater syracuse area?

When one of these tenants is a 'good tenant' which, more often than not, means they are little old ladies or men we do not raise them - OR - we raise them much less.Here is why...A successful full time investor in our area (who is involved with two of the REI clubs that we are members) argues that by keeping his rents down (by this we mean 80%-90% of market value) he minimizes turn-over, saving more money in the long run.He would say: look at vacancy costs, repairs, cleaning, advertising, opportunity costs, etc.

Jump in and get involved here on the site and you're bound to make some great partnerships and colleagues.

Anyone who is facing the threat of home foreclosure needs loss mitigation services or the short sale option to prevent this from happening.First line of DefenseSurprisingly, most homeowners and property owners are not aware of this term or the method involved with the process.

I hope that you decide to get involved in the community here, as in getting to know you, people would be more likely to work with you.See you around . . .

Write out exactly what is expected of all parties involved and you shouldn't have any problems.As a side note, if the investor tells you that the deal is garbage...IT'S GARBAGE..:) I've had newbies come to me with some bad deals and it seems like they are so anxious to do their first deal that they try to make make a bad deal into a deal.

The hardest part about rehabbing is understanding the cost involved with a rehab and controlling your need to make it perfect.