Anyway I wouln't mind getting this one, nice spread from loan balance to current market, and cooler weather starting in September if I have to do a roof, and I'm planning on it.Absolutely right Jason.I'll keep the board updated.Frank

With the ability to pay him the remainder of the balance at the time of sale(When I sell).Do they want a much higher rate then 7%?

., the balance on my permanent loan) somewhere south of $80K

Unless you are a plumber/electrician/landscaper/tree trimmer/... start with a small rental proper and work you way up to the 4 unit.

But I do know that if you keep your oldest credit card open to establish a longer credit history, and pay everything on time from now on, and keep your revolving credit line balances low, and don't open a lot of revolving lines of credit, you can have extremely great credit in about 5 to 7 years, higher than 741.

I'm not talking about going through a full blown due diligence check, but just a quick check of the numbers presented to you (hoping they're not proforma but actual P&L numbers) to even see if you want to go any farther.I know about different analysis spreadsheets which i think they're great. but what i'm talking about is how do you analyze the numbers/deal if you were out in the field and all you had was a calculator. what i want to know is:1. what info (numbers) am i required to get to do this quick analysis2. how do i properly use these numbers to make them mean something (like is the deal over or under priced, will it be hard or easy to get funding and etc), so what's the equation.

I'm a beginning investor and i see the power of using private funds but i just don't know the proper and legal way of doing this.now i know about talking to people you know, other investors, and marketing to other high net worth individuals, which all of this i would consider the first step in the process.the second step i'm guessing some will say is working out the agreement/financial details with the your private lenders once they say they want to invest (which i plan on doing all this in step one, letting them know they're either going to invest as a lender or has a partner and this is what they'll get in either scenario)but my questions are:1. when do i have to worry about the SEC?

You can even hire a collection service to collect your payments, make the payment on the seller's mortgage, and then forward any remaining balance to the seller.

Even if its correct, and you're thinking you'll avoid PMI by doing a refi that's under 80%, you'll need to have a loan balance on the refi that's under $264K.

Additionally, finding and showing properities is about a third of my job.