Lenders want to know you have at least some "skin in the game."

You could do a "right to continued marketing clause" in the contract if you do not want to put hardly any skin (money) in the deal.The seller sounds evasive some and that means they are usually hiding something.

To quote one of my bankers " We want you to have skin in the game."

Might have missed my point, the listing agent will have experience and they are not working at all for you, their goal is still the highest price and quickest done deal.I agree, get an agent on your side that has experience in REOs, one with thick skin who chews on raw meat!

LOL, that's okay, I have thick skin, but I think I am better looking.

At 3.5% amortized over 40 years, even if you're in the property with no skin (100% financed) you're looking at P&I of $1000/month...I can't imagine the taxes amounting to $8400/year on a $150K property.Sounds like some math homework is in order or you're leaving something out.

By keeping active you will eventually find your niche in real estate.I like the saying "there are many ways ti skin a cat" lolSame goes for making money in real estate.Also, don't get discouraged if you loose $$$.

I have tough skin, so don't take it easy on me!

Note, LTV is just the difference of what they want as a down payment or kept in the loan as equity (your skin in the game).

Originally posted by Account Closed:I dont like it. the best way to lose a million dollars is have some newbie go flipping houses on your (friends BIL) dime.Money-less people thinks its EZ to make money with other peoples money without skin in the game.