This is an acceptable method because either 1or both are qualifying for the loan.Keep in mind that all mortgage loan applications clearly state that it is a violation of federal law to materially misrepresent any facts or omissions of facts in making a lown application.

Building is roughly 6000 sq ft, 3 story with a commercial unit on the main level and 4 apartments.Current rents:Commercial space - $500Apartments - $300/ea (Tenants pay all utilities)Light on top of building that banks rents $126Total: $1826 per monthPurchase price - $92k (land contract)Down Payment - $10k5.5% interest on 20 yr mortgage with 3 year ballonMortgage payment: $564Taxes - 3300 annuallyInsurance - 300/monthA few things to note:- Rents need to be raised.

I don't know how much her material has changed in recent history, but many states like mine now regulate Option to Purchase Contracts Executed With Lease Agreements.

Yes this is nothing new to the big boys & girls out there, but new to me as I have only purchase new completed places.This is the current bus. model that worked on my building1-build/buy new & hold(unique duplex like SFR - thus hi quality tenants)2-cash flow-not great but good3-exit by selling as condos (30% higher value than the whole duplex structure)These are the rough number on one current duplex:-150K 0.4 acres land purchase for ONE duplex (an average - extremely hard to find)-300K Build and contractors fee-20K City utilities (can save here w/ tear down-Utililitie in place & easy to permit)-Appraised at 470KWith these numbers there is no deal/money to be made upfront unless the appraisal rises or the land price drops.

Unfortunately there is no way to completely remove mold from unpainted drywall since it is a porous material.""

I'm helping to find leads and ready the marketing material.

Forgot to mention - I would pay cash for the property and I have factored in 10% annual maintenance/repair, 5% self managing cost; $1393.00/year property taxes, insurance, utilities, and 10% vacancy/bad debt/collections into my spreadsheet.

Remember there is a thin line between a kitchen and a utility room.

Hi,I am looking for suggested reading material that will give me a better understanding of how to use my abilities as a realtor to either connect with a developer, or undertake my own development operation.

I'm talking about property that had no chance to cash flow at $50k - 1950s built gang infested, falling apart where owner pays all utilities.