Originally posted by @Jarlen Martinez:Having credit cards over 30% isnt a deal breaker however having them over 30% can cause your score to drop.

You chose an incredible site to be a part of :)I love the idea of living in a small multi and renting the rest out.  

Now, there is a large market for working class folks, who make around $30-45k gross household income that have decent stable jobs that have around 550-640 credit scores that need housing just the same.

Just to let you know there, are quite a few loan products that allow first-time home buyers to buy a home without great credit scores or much money to put down, FHA loans are one.

If it was an incredible deal and if the seller could assure the issues with the gas/heat on that one unit were ok I would have had the inspector inspect the rest of the property as is and that particular units gas line etc.

Hi @Robin Secord I agree @Al Neal that Detroit is definitely an area on the rise and filled incredible value.

Where can we run the applicant's credit score?

Is today's webinar not live? Is it prerecorded from July 3rd? Will it still have Q+A after? Can't seem to log in to chat so I can ask questions.

Also to be fair to @John Montgomery since I am in the Chicago Market...I understand the market for Hard Money here in Chicago is very different from other markets...The market would benefit from more competition because the handful of HML have their pick of the litter and can cherry pick deals...on average they won't even do a deal with a newbie rehabber, and if they will they will only fund the rehab portion to protect their interest and limit their exposure to risk.Cook County is a much harder county to do foreclosures in, and that creates a lot more risk for the HML...Finding a Good Hard Money Lender - matter of fact I wouldn't call most Rehab Lenders in Chicago HML because they function mostly like banks except for the interest rate and points...They want 20-35% of Investors Cash into the Deal based on Acquisition and Rehab...no matter what the % ARV is...Oh, and they still want 680 Credit Scores, and Full Doc Loan Submission...Not anything close to Asset Based Lending...Any HML that are considering moving to a market where there is a ton of Opportunity, Chicago is a great market.

a 720 mid score is required2.  6 months PITI reserves on each rental unit required3.