I have a 1-year position in D.C. that pays $50,000.

u probably know this already, but it's best not to tell or give any personal information about your circumstances to the seller or buyer that may compromise your position, even if they seem friendly.

It can become tricky and probably illegal when you are using private funds for both the first and second... particularly if these private lenders don't fully understand (and believe me if everything goes south they will become the most uninformed people on earth) what the risk postures are of being in a first vs. a second position situation

Everyone listens to every conversation with one ear, waiting to hear how it will affect them, either negatively or positively.

If you can do a cash out re-fi and still have positive cash flow (even if it is only a little) you should probably do it.

I’m quite fed up with my position and would like to start my own company.So, I was thinking if I bought under an interest only loan that wouldn’t suck up all of my savings and my payments would be significantly less.

Let me give you an example on buying a house for full market value, with no money out of your pocket, picking up a quick $5k up front, some positive cash flow every month, and a nice payday on the back end.... plus where talking about dealing in NICE homes....NO junk properties!

So, I think, that he is scared to be in that position again.

I have a client who we have recently preapproved and is looking to purchase a duplex for an investment and some cash flow to come in.I did the rental surveys on a couple properties and compared it to the monthly payments but the loan payments are higher than both rental units for the duplex combined so there is no positive cash flow.Were doing an interest only loan.

Hi well I see your very knowledable in the mortgage field, you are aware of the My Community program well it is designed for borrowers with less then $60,000 a year in income, however I would need to see your credit report to be 100% positive it would work.