I don't know about OK, but here in MA, the offer to purchase and the P&S can be signed digitally, but final closing docs must be wet-signed (ink).

Hey everyone just wanted to explain this concept to those starting out or,if you have experience flipping and need access to more funds.But before I explain how 100% fix and flip financing works.I must disclose the truth about most hard money lenders termsStandard terms from most hard money lenders are as follows80% of LTV (Purchase price) 100% of construction costs loaned/ with a 20% down by you plus closing costs and points ARV is usually 70-75% 12 month term double digit interest rate and usually 3 points depending on experience, credit and reservesThis deal is tough for most investors because it requires the most money upfront and the investor is responsible for holding costsOn the plus side...20-25% down if you have it puts you in a better equity position on the deal but it also limits your ability to do this at scale.Then there is...The 90% LTC hard money loanFor this program it usually is 90% LTV of purchase plus constructionInvestor brings 10% plus 6 months reserves and they pay closing costs and fees ARV is 70-75%Rate and term based on your dealThis deal is not bad compared to the first deal.The 10% is the equity play in this scenario and you pay closing costs points and fees plus holding costs for loan.Not bad if you can bring the money to the table in this scenario and it can be used to scale better than the 80/100 program.The 100% Financing option This program offers the most leverage and is ideal for first timers and experienced flippers looking to do more deals with their contractors without tying up alot of the money upfront and holding costs.Here is how it works:Instead of bringing money down you participate in a equity share loan.Were the funds cover the entire cost of the project at a 50/50 split.The out of pocket costs to the borrow initially is the appraisal and a background check fee.From there the loan is funded in escrow and holding costs points and fees are rolled into the loan.Therefore you can complete the project without the costs out of pocket.Requirements for this loan from most hard money lenders that offer it, are based on reserves, flip experience and collateral.

I know dozens of investors that pay for " turnkey" and are buying below the appraised value 100% hand off with double digit net caps based on cash purchases.

Conventional Lenders (Mortgage Company/Bank/Credit Union): These lenders provide conventional real estate loan loans, the most popular being the 30-year fixed amortized loan.These loans require 3.5% - 20% down payment and require Private Mortgage Insurance if you have a down payment of less than 20%.These are the lowest cost loans you can get for acquiring properties.Private Money Lenders: These lenders provide non-conventional real estate loans using money from investors who are seeking “bond” like security with above-average returns.These loans require 25% - 35% down payment.These loans are more expensive than conventional loans, but less costly than Hard Money loans.Loan terms are usually 12 months to 30 years.Hard Money Lenders: These lenders provide non-conventional real estate loans from investors who are seeking double-digit returns over a 12-month time frame or shorter.These are the most expensive loans and they require typically 25% - 35% down.The loan terms are as short as 3 months and no longer than 18 months.Equity Partner: This is a private individual or company who invest with investors in real estate deals.They usually will bring their cash to the deal to cover down payments, closing costs and rehab costs.They usually will make the majority of the profit from a deal because they are taking the greatest risk.Some Equity Partners hedge their risk by taking a 2nd lien position against the property and having all rents assigned to them in the event of the Investor defaulting.Some Equity Partners are silent partners while others are active participants in the real estate deal.Equity Partners may enter into a Joint Venture with the Investor.Investor: The Investor is the person or company purchasing the property and creating the real estate deal.All investment fall into two categories: appreciation (buy low and sell high) or cash flow (regular cash payments).The Investor purchases the property to either sell it a higher price or to rent/lease it to generate cash payments.The money earned by the profit from the real estate deal divided by the cash investment from the Investor is the Return on Investment (ROI).All our appreciation deals generate a cash-on-cash ROI of at least 25% annualized (before taxes) and our cash flow deals generate an ROI of at least 10% annualized after taxes and depreciation.Management Company: The Management Company manages the real estate deal for their client (Wholesaler, Equity Partner or Investor).The Management Company puts the deal together to maximize their client’s ROI.The Management Company may manage one or all aspects of the real estate deal in order to manage, control and lower risks and costs.Our company charges a 1% transaction fee based on the value of each transaction (purchase, rehab and sale) and we share in the profit realized by our client after the client meets their minimum ROI.Seller: The seller of the property controls the property and may or may not be motivated to sell.

My only investing experience is with stocks, bonds, currencies and commodities.

Most people here expect double digit CoC returns for their time in real estate so that is one viable option.

You might consider "accidentally" typing a wrong digit or two in your phone number to avoid the calls.

If interest rates get up into high single digits or higher (they were 15% for conventional owner occupied loans when I graduated from college) I think we will see a lot of loans being called if the lender has any reasonable basis at all.

One tip is to use digital locks so each resident can have a sense of privacy.Best to you.

Mike The is no denying that The Big Mac Index is great for bringing to light the purchasing power of a dollar against other currencies.