The criteria when I applied and received mine was some of the same factors as though I was applying for a regular mortgage, DTI, credit score/report, W2, paychecks etc.

Ok so I have a coworker who's looking to buy a home in the same area I've decided to invest in he's getting a mortgage in his name and asked if I would be willing to put up half the down payment and split the cash flow between the two of us has anyone done this do you have any suggestions any horror stories any success stories.

If they are separate then you can do two separate purchases with standard 30 year fixed-rate mortgages.

I'm thinking it's a good investment due to average rent being around $1200-1500 in this area for 2br apartments this unit has 4 its list is $550k while I can't find a single family under $320k I plan on occupying one unit so after removing one unit from the market I'm still at $3900 and with not rent if my own which will easily cover a mortgage on the property and still make some extra income and give me the ability to build up capital for future property's

HiIf I buy a foreclosure from the second position for say $200,000, subject to first mortgage of lets say $300,000, and then the first position forecloses - my understanding is it forecloses the original owner, and not me.At this point,  can I pay the lender their $300,000 to prevent foreclosure?

HELOCS are a portfolio product that a Big Box Bank (bbb) would offer where they would lend their own money as opposed to a MORTGAGE product where they can package, sell off the note and ultimately wipe their hands clean of any future possible risk.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!

Your cash flow is going to be based on your mortgage payment.

Remember you have a mortgage to pay too so dont let them screw up your investment with lag of financial discipline.

I failed to add, that my grandmother is 95 years young with a reverse mortgage on the property.