When they told me how much they wanted, I felt they were a little optimistic with their asking price and their estimated rehab budget, but after a few rounds of negotiating over text, we agreed on a price that was $15k under their original asking.The numbers were:Purchase price: 80kseller repair estimate: 35kARV: 180k to 195kMy hard money lender would only lend up to 65% of the ARV and they chose to go with a conservative number at $175k, so based the 65% rule I had to be all in at $117, so that gave me a budget of $37k. 

Originally posted by @William Wallace:Hey, I was toying with the idea of using a HELOC to fund a non-real estate investment, specifically buying some debt.

This can affect the feasibility of collateralizing your hard money loan, and the refi (you might need two, or three, loans instead of one, which not only increases the difficulty of getting the refi(s) through underwriting, but could mean 2-3 sets of origination and closing costs).

Originally posted by @Kevin Westmoreland:It’s a PHA housing 1 year lease What would you say if the bank called tomorrow and asked you to sign for a new mortgage rate that was 2% higher than the one you have?

But if you only look at the data that caused the last crash as an indicator for the next one, it will blind side you. 

Originally posted by Account Closed:If you use the California CAR form the timeline is specified in the purchase contract.The buyer has a certain number of days from receipt to cancel, so it's best to get it in buyers hands as soon as possible. 

The FDIC and many state regulatory agencies will require the lender to substantiate a global portfolio freeze based on value.In the past, I've frozen my entire portfolio but I was able to document that, on a global basis, values had decreased in excess of 50% from origination value.

Originally posted by @Kathi Spencer:Matt M.

Originally posted by @Amy Innocenti:@Nik Moushon Thanks!

Originally posted by @Rob Lee:I would not waive an inspection contingency.