The loan converted to a standard mortgage after the rehab was complete, so no need to refinance or do a second closing. 

If you want to be competitive and the market is hot, your total earnest money (all in before closing) should be at least half of your downpayment.

If each of my contractors charged me $500 every time they pulled a permit, I'd have spent probably close to a quarter million dollars for contractor pulling permits over the past 8 years.Considering a typical permit costs about $50 and takes about 20 minutes of time (let's call it 60 minutes if you add in the extra driving time), that's means I should be paying no more than $100 to have a permit pulled -- the $50 for the permit and then up to about $50 for the contractor's time. 

Point being - if appreciation is close to equal to the interest paid on savings (5% currently) - wouldn't it be much easier to take the 5% from the bank with no headaches associated with owning the property?  

As you start closing deals, you will need to reinvest your profits into mailing lists and other scalable activities to grow your business.

For whatever reason I think the idea got out there that you get $10k, buy a house, refinance all the money out of it, and end up with a portfolio of 10 houses leveraged at 80% or more and just sit back and watch the bucks roll in and quit your job.

Treasuries are down close to 30 bps in the last 8 business days.The reasonable bet based on tracking the last year is that they’ll swing back up 20-30 bps in the next couple weeks….What’s the over, under here?

It sounds like you are very very close to your 1st deal.

Escrow doesn't close until the 24th.

Originally posted by Account Closed:@Copelon KirklinDo you loan in Indiana or Colorado?