And that was supposed to say “smoke on the property...” love me this no edit feature of the app....

The owner of the building is willing to hold an IO note as a second (if we can or can't go SBA) for some of the money if we would like. 

I’m using the M1 app and the Netvest app and reading books like Rich Dad Poor Dad, and Think and grow rich to try and raise my financial IQ.Any advice or suggestions would be greatly appreciated!

As a broker it really is one of those fee's that is more than likely to ensure he's not working for no reason or that his rates won't get shopped however I have seen direct lenders charge up to $300 in app fees so that could be the case as well.

I don't have any apps.. lol... but I know I am a dinosaur..

Cool features are two-way talkback, live view anytime from your phone (through app), motion alerts...etc.Indoor camera (1080 HD) about $50 bucksOutdoor camera (1080 HD) $99Note that these are not connected to any alarm system or police. 

Details:PROPERTY(S): 5 Residential Units / 1 CommercialPURCHASE PRICE: $575,000Loan Amount: $427,500 ($402,500 Rehab holdback + $25,000 toward Rehab Cost)EXPENSE DEPOSIT: $3,995Value at Least: $625,000Origination: 4% of loan amount – Paid at closing LOAN TERM: 12 months w/ 6-month ext TITLE INSURANCE: PAID BY BORROWERAmortization: SelfINTEREST RATE: 10.99% I/O LOAN: $3,912The property cash flows $7,315 and my expenses would be $6,509.08 = $805.92 (income) FYI: RE-FI would be 5% either on a 15 yr or 30 yr loan I have to come up with $172,500 as well as $17,100 for closing & $3,995 Expense Deposit = $193,595 If I can have a second pair of eyes on this deal to help me with any concerns that I may not see.

People who look to capture their targets using mobile app content will fair far better than those who don't adapt.

Might want to see if your buddy would go for i/o payments (also, is 33.5% usury?).

I’m doing my first buy and hold purchase for a long term rental. I’ve received my loan docs back from my (conventional) mortgage lender and he’s included a $995 loan fee. This seems a bit excessive to me. Also includ...