It amazing how many idiots try to flip a house without having any plans nor clue nor detailed budget.My favorite was a few weeks ago - two guys doing a flip and one of the two was so cheap.

No need to run home, cook up false info and then submit the form.I publish the house rules.

I know that with some of these guys, I will have to put together an extremely detailed business plan/Investment Memorandum to get their attention.

Now there are many things one can do in this situation it just depends on how detailed you want to get into it.

I'm aware of at least three situations where this occurred in this area, including one I recently mentioned.Leaf - mortgage broker lent money for downpayments and hid that from the lender.Lincoln - false documents for borrowers income.

The legal details are more or less the same.1st loan secured by either a mortgage or trust deed.Seller financing providing a second loan and secured by the property.I will let the mortgage brokers spell out the financing details (rates and terms).Be very careful with commercial.

Let me see if I can find his contact details.

I expect your company and your personal details support the lower amount so the banks are willing to sign up.Build a track record with the lower amounts. 1 to 2 years later you can grow the lines if you can show a good case.John Corey

Not too far, Can you get me more details on the meeting?

When you do, come back and let us know more details.