When you close the line you return the 50k.So he floats you 50k. 

At least 3-6 months of reserves.Expect to lose probably 2 months of rents when you close, 1 month vacancy, 1 month leasing fee, and to spend 1-2k to make the unit rent ready. 

You had a $150k loan, so after $20k in closing costs you  only get $30k. 

Account Closed Thanks so much for replying and giving me some insight on what you’re doing in this niche.

Something to think about is that you may have unforeseen costs, holding costs and additional closing costs on the refinancing. 

We expect you to be equally committed and, to that end, ask that you bring some money to the closing table.

We expect you to be equally committed and, to that end, ask that you bring some money to the closing table.

When it came time to to buy and close on the home the management company had compiled 4 yrs of payment history that was reported to credit bureaus and had all ready reported the prepaid 10k down to the seller too.

With all that said after closing costs, origination / underwriting fees, etc. if seem very difficult to get things moving along.

Mobile notaries/ any sellers using their own notaries to sign closing docs shouldn’t be allowed anymore.