Russell Brazil Bank one I am clear to close.

Hey @Russell Brazil!

Matt, excellent of you to point this out.And I cannot agree with Russell Brazil more.

Pre-foreclosures is the nut you want to crack before it gets too late and lost in the bank bureaucracy.

I can keep adding in my own cash flow to continue buying, and I want the properties to be paid off when I'm 50-55.Here's the nuts and bolts:Purchase Price -- $144K (Sellers paying closing)10% Down Payment -- $14.5K (4.5% 5-year fixed, 15-year amortization)Rent -- $1650/mo.

Originally posted by @Russell Brazil:@Peter Forrest Do you have your properties financed with traditional 30 year Fannie/Freddie loan products?

@Russell Brazil is right  - hard to find multifam around here ..

Your taking on the roll of a rehab financier when you do the second scenario.. and by and large that is a fairly risky event for someone who does not have experience in lending money and running rehab contractors... a lot can go wrong.Although some of my clients do the second scenario but they are generally doing it for hedge funds or more institutional buyers.. it can be a royal pain for someone or company to rehab a home for an absentee investors who really has no experience with it.. they can drive the poor rehabber nuts, by bugging the heck out of them.. etc. 

Wholesalers"In a nut shell, real estate wholesale companies put properties (normally distressed properties) under contract and assign or resell the property to another investor.

can you cover a p and I nut of 1222 a month and come up with an additional 3k down?