So when they lend you that $96k, whatever you still owed of the $82,025 you borrowed originally gets paid off, and the balance is handed to you as cash (or, credited to your account)!

Account Closedmy Lansing experience with local management companies - was not good so far.I currently live out of country as well and I manage my US properties on my own.

Thank you Account Closed !!

Originally posted by Account Closed:@Upen Patel I have a portfolio loan that is collateral on 18 properties. 

My title company will wire it directly to his account.

I am looking to connect with the following types of people to work with: General Contractors, Attorneys, Wholesalers, Accountants.

There's a lot of real estate professionals that you are going to need to work with (lenders, contractors, accountants, lawyers, etc.) in the course of buying, renovating, and renting your house, and you definitely want to network and build your team with all these professionals.

I received my tenants security deposit (with interest) at closing and put it into an account for them.

Your renter can pay free if they pay by bank account, however if they pay with a credit card they pay.

I have to agree with Account ClosedYou probably need more financing and more education before you buy an investment property.I would also call every bank to find out what their lending terms are anyway to get  more educated.Why not a 4 unit with another bank?