I have 2 choices: 1) Pony up the $3,000 out of MY pocket to get the job done (I don't need to bring this money to closing, but I do need to demonstrate to the HML lender that I have the funds to make it happen), or 2) Simply adjust my budget down by $3k.Let's say that the lender charges the following:3% origination fee ($65K *.03) = $1,950Appraisal Fee - $500 Pro-rated Interest (one month) - $380 Title Search / Title Insurance - $175 Pro-rated Property Ins. - $100 Pro-Rated Taxes - $400 Settlement Fees - $400 Recording Fees - $100 Wholesale fees (if applicable) - $500 Since "No Money Down" is not an option, I'll will need to pay these fees up-front in order to get my $65,000.

Originally posted by @Peter M.

Originally posted by @Eric Adobo:$250,000 in Vegas gets you $2,500 a month NET.

This is all assuming he has a good bit of cash, which it sounds like he does since he has no expenses) and then we'd send him a check monthly until we sell the house and then give him his original loan back.

Originally posted by @David Morgan:It seems to be a very tough strategy(fix/flip) in the Austin area.

Originally posted by @Jason Perkins:I agree with @Tyler Hogan on this one.  

Originally posted by @Omar Khan:@Gregorio Martinez The capital gains tax does NOT apply on assets held less than a year.

Originally posted by @Matt Shields:A gift is nice, but the best gift is referring your agent to other people.

Originally posted by @Nicole Heasley:I definitely don't think an MBA in finance would hurt.

Originally posted by @Tianyun Zhang:Also the agent said we can only see the building after we put it under the contract.