Make it month to month and don't let them talk you into committing to a year lease or even 6 months.

You could get some amazing exposure to the real estate community and learn a lot from a MRED especially if you are fully committed to it.

Often they have a relocation program to help move older homes out, but ONLY if you are committed to replacing with newer Manufactured Homes, which there is good money in!

You can try to get a commitment letter from them before the purchase, but that would be difficult if you're trying to get a quick close done on a cash deal.The other potential issue is that many banks will use the lesser of appraised price or purchase price, if the property is purchased in the last 1 year.

In addition to a possible "cocktail napkin" note (make sure a GOOD real estate attorney reviews the docs before you commit to buy), Mobile Home deals are a different animal than SFRs.

We all like to help here in the forums, at local REIA meetings and such, but a mentor is a high level of commitment on both sides.What are you offering/contributing in return for the help?

The HML is not obligated to make the loan until the HML issues a loan commitment letter to the REI.

They will ask, and if you deny the down payment is borrowed you're committing loan fraud.You could take on equity partners.

Hello everyone -My husband and I are committed to starting our endeavor in REI and would like to know how to find a broker so we can get things started and begin looking at properties.

What this is is a future commitment to modify the note or to provide future financing.