Unless you're retaining the earnings in the entity, though, the effect is on the SET and not the base tax you pay.Jon

To effect an actual closing, you would need some agent of closing in some form or fashion, but the birddog could not do it and maybe that is what was inferred by the attorney for the REA association.Joe

This allows HUD to manage more effectively the greater risk supposed to be inherent in these loans, thus lowering the insurance premiums for the vast majority of borrowers.

For me this has been more effective because you broaden your network.

My two instances of not being firm enough have effected my cashflow a bit (I should have stuck to my raising the rent that month for the 85 year old lady instead of postponing it for 3 months), but not enough to make me grimace.

And they will be tougher to come by when the new rules go into effect Aug 1, though that should impact lenders backed by Freddie not Fannie if I understand it correctly.

This should cause an effect that was probably not intended by the mortgage providers.

This question prompted from this comment made on another thread:Originally posted by "dafly":My two instances of not being firm enough have effected my cashflow a bit (I should have stuck to my raising the rent that month for the 85 year old lady instead of postponing it for 3 months), but not enough to make me grimace.

You should have a couple "out clauses" or "weasel clauses" in your contract to protect you just in case you cannot find someone to sell it to.The most common clauses are the inspection clause and partners approval clause, ill give an example of both.This agreement is subject to final inspection of the property by the buyer and/or buyer’s business partners on or before certain dateThis agreement is subject to final approval of the property by buyer’s business partners.I am not a lawyer so make sure you have your lawyer inspect your contract and these clauses before you use them.And just like wheatie said, if worst came to worst and you had to break your contract, the earnest money should be sole remedy of the seller, so make sure that you are structuring your deals with little to no earnest money.Good luck

One aspect of goal setting, that is vital in its effectiveness, is recording or verbalizing them.