I doubt will see anything as bad as that again, but banking/lending is a wild card.

Edit:I have 1 gas card with a $400 limitI have 1 CC with a $5,500 limit, its paid off every month, so I carry no debt with it.Besides that I have no car payments or other loans.

Then deal with the assignment versus double close versus transactional funding versus closing on it with a credit card or hard money or whatever and then decide who will do the escrow.

Banks, credit card companies, etc. are also exempt (or better defined as given license to steal in the case of the credit cards)Rich, the 3 deals we got burned on for TF were all 30+ day deals with borrower having no skin in the game.

For expense documentation (usually the greater concern), you want to have both receipts plus cancelled checks/credit card statements.

If a hard money lender will go 65% LTV - then I'd look to find properties you can buy for like 50% LTV and either get the lender to cover repairs or use a credit card, or borrow from family, or something (but be very careful!)

Hi rookie in Houston, TX pursuing my dream of becoming a real estate investor.

Made all the rookie mistakes.But I call it my TUITION.

Hi All,

I am a new BP member and I close on my first 4-plex on March 31st. I'm excited to get started and to pick up property #2. I'm really looking to gain more knowledge from more seasoned investors and I'm really ...

Credit cards at 20%, banks generally not lending on unsecured consumer sector, a decent space exists for companies that broker online loans in that space.This lending platform just needs to work on develpoing credibility and stability.