The payment for my HELOC was explained to me as:So the payments on the amount you withdraw at the beginning will be based on a calculation of the interest on the loan + 1/360th of the balance every month.So your interest would be your balance times the APR and then divide that by 12 to get your monthly interest.

NOI is also a pre-tax number. 

I'm from New England, but very familiar with that area given the amount of skiing and summer traveling we do around there.

Transfer Tax and Broker Fees) = - 132,250.00Interest to Hard Money Lender ($1,068,070.25 @ 10% APR, Funds were provided as needed, Up to C of O was Issued, Total 16 Months) = - $166,778.11Total Construction Costs = - $982,680.00Total Profit on Deal = + $228,291.89Scarsdale Homes Fly Off of the Market along with other Westchester County Areas.

In the end though, actually executing on a pre-foreclosure/foreclosure is the hardest part as you need to figure out how to contact the owner or lender and make the offer...which is really where the rubber meets the road in this particular investment strategy

You can’t ask people that you don’t have a “pre-existing relationship” with to invest with you.

It wasn't just about 'the highest and best' deal.Looking at my options in terms of what I had vs. their 'wants', I knew I already had a pre-qual letter and I was good to go.

We did not have the capital for this so we pulled out a 12 month zero APR credit card and put $40,000 on it. 

The confusion is a result of mistaking this letter with a pre approval letter from a credit based lending institution.

Amex loves to work with Real estate Investors and Realtors; with only one hard pull, you can get up to 5 Credit cards sometimes with 0 APR for 12 months.