Someone actually bid on it, but the reserves hasn't been met.

If he can build up enough reserve to finance 100% of his deals himself, he'll be even better off.

The banks want that protection.You're wise to consider the need for cash reservers.

That was my other reservation about them.

Put all the cashflow in a fund held in reserve for repairs and vacancies until you can cover at least 3 months expenses and mortgage payments, and cover any repairs including a new roof or new heat/ac.5.

Definitely possible in SoCal but having some of your own reserve capital in case something goes wrong will always help during the fix and flip process.The key is to finding a good deal then going out there and finding an investor to partner with you.As discussed previously by Mr.

Turnover cost, maintenance and repairs, reserves for capital improvements etc etc.

I am also in a partnership that owns/operates a premium strength training facility, and I have two little kids and a part-time gig in the USAF Reserve.

I would talk to a few loan officers and see what options are available to me as far as purchasing your own home -- how much you'll need to improve your credit, down payment needed, reserves, etc.

Underfunded reserves, special assessments, design review boards and landscape "police" have all left a bad taste in my mouth with various homes and condos I have owned.In 2011, I was working on a town home in a coastal community of San Diego county and butting heads with the HOA president.