I deal with a lot of investors making drawings and obtaining permits for them in chicago.

What is ideal?

My ideal situation would be to do as @Glenn McCrorey stated and try to get that loan down to 5% which would get the payments down to around $475 which would fee up $175 a month at no cost other than closing, which sounds like a solid investment to me!

Ideally you want to align yourself as a partner (till you get your capital up) vs just a contractor.

I'm a member of USAA and I have never considered using them for anything other than auto and home insurance along with standard banking.Many local banks have easily beaten their rates for auto loans and it looks like home loans as well. 

Hi everyone, looking to connect with any mortgage professionals that either work for a boutique operation or own/operate their own brokerage located in Southern California (ideally Los Angeles) to gather some insight on the day to day operations.Thanks!

Now I have mostly dealt with handy men and this is the first time I deal with contractors.

We've seen lots of investors achieve FIRE in Metro Detroit, hence the name ;)Purchase: $80k-$130kRent: $1200-$1500ROI: 10-14%Cash flow: $250-$350/doorAppreciation: Double digit (for past 10 years, will gladly send data)Location: C+, B- (suburbs and certain markets)We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.The bad reputation comes from OOS investors wanting $20k D market properties.

Only credit card companies and auto and consumer finance when you have the companies subsidizing the buy downs.I see this on the lending club sites were they are making these small loans to consumers. wonder when the other shoe will drop there..

For someone who wants my business, get issued a 1099, or a subcontractor agreement, they need to have a valid contractors license, and at least 1 Million Single Occurrence in workers comp, 1M general commercial liability, and 1M Auto Liability Insurance, I won't accept anything below that.