We borrow 15-20 yr. amort. with 5 year balloon for a few months (also to make a full cash offer) and then try and arrange long term financing after things are rehabbed and rented.

Have you looked up REO Listings and see who the main few listers are and see if you can assist them in some way?

In all likelihood, I would stay in the home and not flip it.Is borrowing $20,000 secured by a 2nd mortgage, and then refinancing in 12 to 24 months to take the 1st and 2nd mortgages out... a realistic approach to acquiring this property?

Good Morning Jon,Wow...I have to say that you are truly an inspiration..whenever I am searching for more knowledge or information on a topic...you better believe wheatie is right there assisting people...thank you so much for taking the time out to share your experience on this tool that Joshua has afforded us...You have helped me more then you can imagine.Jon this home was totally renovated I mean it looks brand new inside...Its a forclosure and the bank is insisting on a Rehab. loan...there is little to no repairs to be done a light fixture cosemtic thats it...can you help me here...and are rehab. loans good...a friend of mines said let it go...tell them you want it as is or not at all..I am having a contractor look at it tonight..thanks have a wonderful day,vjb

You should also start building your business credit portfolio so that at a point in time in the future you'll be able to borrow on your business credit and keep your personal credit clear.

Ive been learning about real about investing for about a year and a half now.I havnet been able to get started due to some family issues, and the fact that im not 18.But all thats worked out, and I'd like to start doing simultanious closings, then re-invest that money into savings until i can do a rehab without borrowing much money on it.So my question is, where else is good to look for properties that investors dont already have a hold of, considering its hard to do a simlultaious closing with yet another investor involved.So far i have:Newspaper classfiedsCraigslistLocal REI clubs and networkingDriving aroundCalling "we buy houses" or "houses for sale" signs.What else?

If you need to turn your property quickly, you probably shouldn't to go in for over 50%ARV.If you don’t already have one find a mortgage broker who is familiar with all the grants and down payment assistance plans in your area, can do refinances with no seasoning, and has a very aggressive credit improvement plan.

I also have a good deal of experience in loan closings, most of which have typically occured in the borrower(s) home.

My broker also creates a letter to the borrower that summarizes the terms and conditions into more readable English.

I find properties at a huge discount to market value (the properties find me); I go the the bank and borrow the money; and I rent the property to tenants.