Lenders don't want you borrowing as an owner-occupant and then never intending to live there.

Normally I fund a flip one of two ways:Purchase the property using a HML, and rehab using my own funds,OR,Purchase the property and borrow the rehab funds all in one loan from my HM lender.Obviously using my own funds on the rehab is ideal, saving me 20% on the rehab, but I find myself lately with more than one project going and can afford to use loaned money, reserving my own cash for the inevitable emergency, or in the case these days, for another opportunity.When I fund the project 100% on a HM loan, I'm usually under 65% ARV for the total loan, and at 15-20% financing.

I have been looking at properties from 20-50k and have 11k capital but can borrow from my 401k need be.

There is no update to be had...it's an urban legend that you can get a list of borrowers that are 30,60,90 days late without getting an actual credit report, that you would not be privy to, and anyone selling that information to you for the purpose you propose, would be violating at best, the covenants of their agreement with the data furnisher and at worst, a possible crime.

HI Jon, the seller credit can only be used for non reoccurring and reoccurring closing costs and cannot be used to offset the down payment of 5% down so the borrower has to bring in their own money either documented from their own funds or by gift.

And all that with no risk of borrowing money.. they get paid for time and a service.

If the borrower's house debt was included in the BK, then an eventual foreclosure does not harm their credit.

Years later it's worth $160K and you go to the bank looking to borrow 75% or $120K. $40K cash pulled out.

If I understand it correctly UBIT tax only applies if I borrow money to buy a real estate investment property, correct?

I was thinking of trying to borrow just enough money to get a hard money loan for a year or two and save two put down a higher percentage on a traditional mortgage.