Looking to get some creative idea's for financing. I've talked to serveral HML and they require min 660 FICO and 20 Percent down. I see alot of people making deals flipping houses using "no money down" :roll: But it...

Also, what is a good strategy to lock on your assignment fee whether its the difference of end buyer sales price and original sales price or assignment fee, without disclosing the actual contract?

If its possible to lock in a fixed rate it would be foolish not to.

I will tell you from the deepest depths of my soul that I can't stand property management.You ought to here the horror stories I hear from my sellers when I list their properties.Managing is a very tough business.I think where many investors go wrong is they try to be CHEAP in paying a manager.When they buy that 1st house they believe that collecting rent will be easy.When they find out it is much more intensive than thought they now look for a manager.The problem is they didn't take this into consideration when buying and now will have a cash flow problem.So they then try to find the cheapest person possible.YOU GET WHAT YOU PAY FOR.What buyers should do is say I am going to manage myself but just in case that doesn't work out I have already priced a PM company into my offer to buy this property.This is what happens to people who don't plan enough for a fix and flip and they get stuck with a rental and a nightmare to deal with.You have to plan upfront as much as possible so that you mitigate the risk as much as possible of problems happening.For houses many brokers/agents look at it as good side income but it is not a huge paycheck for them.As soon as sales pick up they could care less.Why does everyone let themselves get locked into a 1 year contract with no provisions??

Seemed like it might be a good idea to lock something in now while I'm young.

Lock at the adress of the owner and write him an offer letter?

If you dont 'open' ALL of the faucets and flush stools,,,enough water will be air locked in those pipes to freeze and burst anyway.Open both sides and allow air to enter, they drain.Much like a straw in a glass of water,,,put your finger over the end and raise it out of the water and the water stays in the straw,,,doesnt when your finger is off the end

As my contract stands now, I had to extend my rate lock (4.5) for 28 days to the tune of $935, of which thankfully the seller (Wells Fargo) agreed to pay at closing since it was a seller title issue.

Contact either Josh Dorkin or Jon Holdman and they'll either lock this thread or delete it for you.

If I find a lower interest rate/better terms with bank B after I lock the interest rate with bank A, can I go to closing with bank B or am I obligated to do it with bank A ?