You'll need some type of POF/preapproval for the source of your purchase price.

Hey all,New guy from the Lake Norman region of NC looking to learn and expand into real estate investing as a hobby and passive source of income.

Zillow I like more than others because of the map feature and allows you to visualize anyone close by quickly.but those are asking ratesis there a source for how much they actually rented for, and when?

I think that's a fair representation Don.Private money can be peer to peer, but not necessarily peer based.If Granny loans you the money, that's usually private. between two parties but could go through a facilitatorPrivate money can be from capital in a JV project, as I see it, private sources are simply from those not in the business of lending, those in the business are (or should be) registered as a lender to some extent, if nothing more than a business license.The use of the term "private money or lender" is pretty loosely used.

Their price is higher because they actually collect primary data from sources such as county courthouses, etc.

In a nutshell, it will be much more difficult to get approved for a loan, and fewer choices.There are countless sources for the details of this reform, and it's rather wide-sweeping, but here's a summary of how it affects mortgages:http://www.quickenloans.com/blog/new-qualified-mortgage-rules-effect

I thought I'd share a recent experiences that other aspiring wholesalers may learn from.As someone who represents my own clients who are investors themselves I have to have a reliable source of information.

I definitely know the area fairly well and even have some good tenant sources in the Loma Linda area (I'm a professor) and I have to say if you're going to rent to college kids, a Seventh Day Adventist (no alcohol or caffeine) Medical school is a good place to start.

The proposed US interagency guidance proposes larger banks need to hold high quality, (super) liquid assets for a prescribed amount of runoff (overly prescribed/inflexible if you ask me) - rather than relying on off-balance sheet funding sources and a balance sheet full of less liquid investments/assets (they more or less want treasuries or cash to fulfill a low/moderate runoff, with haircuts/limits on Agency MBS) The caveat is that the runoff is what you would see in a low/medium liquidity stress scenario, so they can still project to lean on borrowings in high stress.

Have you looked into other sources of borrowed funds?