Feel free to hit me with questions if you like :)Hal Cranmer - awesome reason to start a site...however if you don't have a lot of knowledge on building sites, and your main goal is simply to sell a single property, get on FSBO sites and list it everywhere for free. no reason to make it more complicated than it needs to be!

I have come to the conclusion I have no use for a Buyer's agent, I just dont need the hand holding, or the negativity.I will simply contact the Listing Agent for a showing, after having checked out the House and neighborhood on my own.I am guessing the Listing Agent will attempt to say this is against their "Code of Ethics" or some other crappy story.So, if anybody has experience with this concept , please post, and let me be wiser from your experience , and hep me smooth out my presentation to the Listing Agent .thank you for any and all comments.

Ted, I was simply alerting some of the people on this post to be very careful proceeding with double close short sales.

Let us know the results of your LOI offer and if the seller counters or not.NEVER let the seller simply state to you, "make a new offer/LOI and resubmit" Tell them, "please send me a written counter offer"Sellers telling you to resubmit a btter offer are playing the game with you, turn it around and don't them them win that game.

I think the biggest problem would be coming up with the 20% needed to make these numbers work.Purchase Price:$2,350,000Property type: 72 unit ApartmentYear Built: 1970Rentable Area: 58,211 sq ftLot Size:: 124,823 sq ftCurrent Occupancy: 89.19%Purchase Price: $2,350,000Assignment Fee1: $100,000Cap Rate2: 10.77%Net Operating Income3: $253,078.29Pre-tax Cash-flow4: $102,986.01Earnest Money Deposit5: $21,500Down Payment: $470,000Loan Amount: $1,880,000Amortization Period: 30 yearsInterest Rate: 7%Mortgage: $12,507.69Loan To Value Ratio: 80%Debt Coverage Ratio: 1.5044Unit Mix: 24 1/1.5, 47 2/2, and 1 3/2Scenario A:You'll purchase the property at a 10.77% cap rate (based upon his actual numbers), DCR of 1.6862 (assuming you get financing at 80% LTV with 7% APR); and you should receive an annual pre-tax cash-flow of at least $102,986.Scenario B:You could increase your cap rate to 12.1%, your DCR to 1.8949, and the yield of your annual pre-tax cash-flow by nearly $32K simply by reducing your vacancies and collections (from nearly 11%) to 5% of the gross rents (which is the norm for that area—so it's doable).

If you have an investor lend you money - that investors is not in a flipping business, he is simply a lender, loaning money to you.Let me reiterate what I said earlier: you should contact a professional and discuss your situation in details to get a proper guidance, you can only share limited amount on the forum... based on the above discussion I can't say that I fully understand your business model, if we were talking on the phone that would be a different situation, I can ask any clarifying questions I need to get a full understanding in order to provide you with correct guidance...

There are a handful of reasons why you could get a second loan, relocating 100+ miles away, or significantly upsizing your home due to a growing family ect, but simply waiting a year and getting a second loan isn't necessarily going to work unless you refinance that first loan. 

Leases generally run first to last of month so unless you have a very special circumstance a tenant can not simply postpone a move by a single week.

How could it be years that you have not entered the property?

Here's some information on a plot of land I am looking at:The plot of land is $70,000, in a beach town (not a popular destination, but also not in a completely run down neighborhood)Has already been zoned/approved for 750 unitsBased on demographics I put rent at $1200 per month per apartment I calculated a construction like this will be around $7 million.Basically, I ran the numbers myself, but I know they are not spot on, and I am simply asking for advice from somebody more experienced in this field to help me out by pointing out things unique to these types of projects.