Some green elements are not overly expensive and add a distintion to your marketing.Also, don't forget that some might want to gain cash-flow rather than take the capital gain.. so maybe they can simply pay you your 30% and retain ownership.Also, give me a $75K entry point (plan A), $150k (plan B), $300K (plan C), and $500K (plan D).

However, an established profile with D&B is essential to any business owner who wishes to obtain credit without a personal guarantee.

Do I just send the hard money lender the amount owed and then I essentially own the house free and clear?

In addition to turning off all the water at the main shutoff valve (at the street is even better), you need to shut off the water heater so that you don't burn up the element.

Jumbo loans are essentially non-existant, which means a buyer has to come up with cash or a big enough down payment to move this into conforming territory.

It only makes sense to foreclose as a second mortgage if there is significant equity in the property, above the first mortgage balance, since that equity is essentially what bidders would be receiving.

. :)I just hate seeing people spend thier money for stuff thinking it's essential to thier business when it doesn't work well or is inaccurate and where, with a little more effort, they can learn techniques that are the accepted and proven methods of doing things.

With that analysis, you're essentially saying you're borrowing the down payment from yourself as the same terms as the actual loan.Jon

I believe a lot of the essentials apply to REI, but not all of it.My question to the biggerpockets community is how important is it to have a detailed business plan going into REI's?

It's a good idea to pull the back off the sryer as well and vac the lint from the exhaust, element housing, and switches and wires.