Flipping real estate is very similar to flipping cars, just somewhat more involved and takes longer.Many banks/mortgage companies won't lend on flip properties if they need too much work; you need hml or private investors to complete the rehab then refinance with the bank if your keeping it to rent.

Imagine: you refinance a home based on an "inflated" appraisal to pull out some cash.

Your best bet is to ask whoever will conduct the auction what payment method is required by the winning bidder.Watch your P's & Q's on this one, something about the whole deal smells a little fishy.

Of course your best bet is just to stay clear of any words that end with 's'.Just me two cent(s)...

I don't want to criticize anyone's hometown but your best option may be to get out of Williamsport. 30% ownership rate sounds like it may be 1/2 the national average, which implies (at least to me) that the economic conditions may not be great there.My best bet is to accumulate some cash, even if you get the ppty with little or no out of pocket (which is not as likely or easy in real life as shown on late nite informercials), it still takes cash to repair and operate ppty.Good luckall cash

I WILL turn it into a rental though.On both properties, I can refinance after 3 years (which I'll probably do to a fixed rate) before my payments shoot up a bunch.

They had big money defense and I would bet in Vegas that they dont spend a day in jail.

Just out of curiosity, how soon after buying a house can you refinance?

We provide thru our direct commercial mortgage financing lender commercial real estate funding nationwide.Our lender has funded nationwide from $1,000,000 to over $400Million since 2003.They deal in Purchase,Refinance,Construction,and Permanent financing.Our funding comes via our direct relationships with Banks,Conduits,Insurance Cos,and Private Money.We have Stated Income/Assets to $3 MillionFull Doc to $100 MillionConstruction to 90%LTCMultiFamily to 90%LTVOur famous and successful 5-7 Day close funding program is available.No Appraisal is NeededYou must have an Income Producing Grade of A-B,no exceptions,and you must be the direct Principal Borrower,we do not deal with broker chains.If you have immediate need,and have a quality Executive Summary,contact me.Don CarterPh:803-250-8379

LOL Ill bet you all did it that read this book!