Remember as an investor it is not the VOLUME and size of the deals you put together because many can be crap it is the QUALITY of the deals you do.I would rather spend a few months doing an awesome acquisition than buying up marginal to okay deals left and right.I have seen this happen on flips and long term holds.In both cases the investor did real well on one property and then started getting carried away.Pretty soon a couple of marginal deals starting to tank their long term portfolio into a neutral or negative position.Even on flips they made good on a few and then the next few went real bad and they were almost at square one again.You have to treat this business like a pawn shop.You will come across many sellers but few will accept your price and terms.So you have to keep going or come back to the seller until they get desperate enough to meet your terms.A classic tactic with a seller is when they will not accept your price and terms.Then a few months pass and they come back to you.Then if you have a couple deals on your plate you come from a position of power.You let them know you are involved with other projects now and to take this property on now you couldn't pay what you offered before and can now only do XX.There will always be another quality deal to be had but millions of marginal to okay deals to get stuck in for years and paralyze the growth and success of your real estate investment portfolio.

Instead of polluting our forums with that crap, I removed all 19 posts and booted the user for injuring my brain with her garbage.

So your issue was not the deal or your profit margin or any of that other crap, it was your network of buyers.

. ;-)Now, if the broker manages to sell a higher interest rate (convinces the borrowers their credit is crap, their income is pathetic, etc.), they can often offer several concessions to the borrower, such as pay their closing costs, because the lender is paying the broker a fat little bonus for selling the higher rate, which makes the note much more valuable on the secondary market (yeah, selling the mortgage to somebody else for a premium) or as a portfolio loan (the lender services the loan and enjoys all that extra interest).

Remember your max you should go is $57k-$58k (unless the rehab can be verified to be lower than $30k (you still have some homework to do here.I would asl oagree with the advice from Jonathan to have that basement inspected closely by a professional looking for water and mold damage.Regarding Joel's comment of the HM lender, he is right, they will be holding the rehab funds and pay via draws as wrk is completed to their inspections (only items requiring licensed tchnicians will they require you to use such people, much of the work can in fact be done by you, however, if they see crap work, they will likely not release rehab draws.

The very reason this guy would deal with your product is because his credit/situation will be crap.

They also fine the crap out of everyone they can like crazy.

So any lender stating they can get me 100% LTV is full crap?

It was a bunch of ancient crap and how it's everybody has it bad for those hardwood floors.

We could have made MILLIONS selling the cheap crap houses here in Memphis and made the returns look astronomical by doing less work up front and keeping price points low.