@Noel Dixon The most overlooked thing I see when people talk about assumable mortgages is that, if you can get approved by the lender holding the mortgage, you will need to bring the difference between the loan and purchase price in cash.

Most investor loans require a minimum of 20% down for rentals and 15-20% down for flips, especially if you are a first-time investor.

I've gone through this before working with clients to get their credit up to qualify for a loan, and as much as the debtor will make it seem like they have no control on deleting the tradeline, they absolutely do and anything beyond that is just company policy.

Since you intend to wholesale you'll either have to use cash, or maybe get an advance from a credit card or business loan to cover your EMD.2.

Do you know the loan amount you will qualify for?

Can one partner loan money to the partnership in the case of an unexpected repair?

• Purchased directly from a mom-and-pop operator off-market• Secured $1M credit union loan and raised $500K equity to close• Existing owner had inflated expenses and below market rents• In-place rents approximately 30% under market at purchase• Expense ratio at least 10% above the norm How did you find this deal and how did you negotiate it?

The answer to their question is whatever you paid in 2013 plus major improvements done since that time, if any.

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I'm excited for this improvement.