This involves a phone call with the broker, where you’ll conduct preliminary underwriting based on current financials and general rules of thumb.For us, those rules of thumb for a Proforma include income and expense assumptions on the property, renovation costs, premiums we could gain by doing value-add improvements, and financing.

My realtor and I went to city hall with a preliminary drawing and the planner said it would not meet the subdivision guidelines.

He's done some preliminary research and has found a 2nd mortgage will be easier to get than a construction loan or HELOC. 

Yes - most hard money lenders can provide some form of pre-approval after a preliminary application.

Of note; I only put forth one applicant at a time after I do a free preliminary screening checks of past landlords, employment, and open source criminal courts online.

The units sold shockingly quickly despite it being an awful time of year.

The units sold shockingly quickly despite it being an awful time of year.

I was shocked in the first place since I hadn't even had any luck with credit cards!

Properties here may be sold with back taxes but not often from my understanding with a couple investors that is where the due diligence before the auction comes in, the representative from the attorney's office stated within that 24hr window they make sure the homeowner doesn't file bankruptcy or any issues with the title don't occur upon transfer.Also shocking enough, this company buys at the auction maybe 3 times out the month but they are always pulling in multiple properties at a time.Knowing how this company does their deals, they ask for a walk through of the property.

well we don't have to have 12 guides, :shock: I am just shooting out ideas.