Lenders will love because you are scaling your plan and along the way to will prove that you can manage your project and they will be happy to loan you more money when you finish the first phase.

I used a lot of leverage for years, but am now phasing that out to get debt free.

With that said while deciding to move through the contingent phase investors can bail repeatedly leaving the agent empty and a bad taste in their mouth on out of state investors.

WHen phase 2 (buying MF) comes in, I am for sure gonna look elsewhere...

Hello BP:I have an interesting situation.8 years ago, a residential property was purchased by my client and converted to a bed & breakfast and has been functioning as one since.Client now wants to sell, and, due to the fact that good records weren't maintained, it's being sold/marketed as a residential property.Someone I work with in REI with quite a bit of mortgage lending background with underwriters advised me that whoever buys the home will likely have a very difficult time getting the deal done with a conventional mortgage, because during the due dilligence phase, the lender will find that the property has been running as a bed and breakfast, and therefore will shy away from it... even if the stated intention is to use it as a primary residence.Can anyone with background on how the risk factors of these deals are considered and underwritten, or knowledge of common underwriting practices shed some light on this?

Phases electric is good.

I can only guarantee that I'll work hard but cant guarantee that I could get someone a row of deals a month (which is not impossible just not in this phase as i have none).

Just in the research phase.

The area I am in is currently undergoing a "revitalization" which is super hopeful for an investor so I'd like to jump in sooner rather than later, or even make connections with others who may be interested in the area.I am currently in the education phase so I can make the best decisions possible in this new career.

Construction loan interest only, Rent up phase interest only versus straight to P/I payment.2.