You'll also have to show them your fully executed purchase agreement, proving that you actually have the ability to purchase this property for $2M.Also, I believe SBA will allow a 10% construction contingency on top of the number that is substantiated by the general contractor (this would be your "just in case" funds).

(I tried to build in some contingency costs to maintain cash flow if I decide to hire a PM or contract rehab work.)http://s24.postimg.org/nvg7omq79/image.jpgI would really LOVE some feedback on my numbers.

anybody have one that includes assignment and at least one contingency clause?

This makes it more difficult to find the actual owner of the property and less likely for a lawyer to take a case on contingency for a plaintiff, requiring a person to pony up cash upfront for their lawyer.

We have tried to include contingency clauses that would ensure our EM would be returned if the deal was not successfully closed, but ...

Sabrina what I do that has worked for me is to complete a contract with just my signatures, contingencies and other information that remains constant from offer to offer.

For many folks living in high priced areas where small investors are completely priced out of REI, our choices are:1) stay out of REI completely2) invest in notes or HML3) invest out of state While I appreciate & give great weight to the advice of seasoned investors like Jon Holdman who caution against investing out of state, I think it can still be highly profitable as long as one fully understands the risks and plans for contingencies.

-My offer would be a cash offer, NO contingencies at all, could close in 14 days or sooner if title work is done, have proof of funds, etc.

Is a bedbug inspection contingency something you would do?

An approach that is, IMHO, deceptive, but preserves the illusion you're buying:"I need 21 days in order to do my due diligence and get approvals from my partners, the contract is contingent on getting through this work with a 21 day deadline."