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.

first - it could have been a cash deal. maybe they were in a position where they new the other buyer who was offering cash and they knew they could close whereas you're someone who needs financing, they don't know you, etc.also - what was the point of purchasing this property?

The question I have is what are the steps I have to take to investigate the property which is in another city.New York City is too expencive to have a positive cash flow.

If you can find a worn out, tired landlord you may be able to negotiate his monthly rent cost by giving him a "worry free" lease meaning guaranteed payments on the 31st, no repairs in the middle of the night, no one calling him fussing about stuff, basically eliminate most of the hassles of the typical landlord position.

I was looking at a property in a very desireable neighborhood in my town, I can get the house for 60k and the owner will hold 50k of the mortgage, there is however around 35k of work that needs to be done in the home--when done the home should apraise at around 150---here is my dilema, this can be a good flip, however this area is rapidly apreciating and I can get around 800 a month positive cash flow by renting---how can I get a loan for the down payment/closing and repairs?

There are tons of possibilities with notes, options, rentals, flipping, development, etc, but a lot of those options are dependent on your abilities, your interests, and your current financial position.