They were so cheap I could fund them myself. 1) You can get bank loans or loans from traditional lenders like mortgage companies but that is extremely tough to do right now and usually requires substantial down payment. 2) There are Hard money lenders- high interest loans for investors - usually will require a down payment and some of your own funds.3) Some people use money partners.

Will and other respondents-The EXTREMELY low LTV is what I'm basing my profit on.

Even though the motivation doesn't sound extremely strong, I want to leave an offer so he can sit on it.

This question probably sounds extremely basic and silly, but I'm still at that stage - lots of silly questions.

I believe that's statistically extremely unlikely.

Right now it is extremely hard to get any financing for investment properties and yes most banks will want the property to be "seasoned" for 6 months to a year or even more.

For the record, I have only done 1 flip that went extremely well.

The average cap rate is around the 8% mark, not extremely high like in some areas, but high enough to produce returns in the teens with conservative leverage.

One could easily argue college education is extremely important!

I have heard that is extremely rare for a bank to actually do this.