You also want +20% equity in the property to avoid Private Mortgage Insurance which can be costly.Bill Gulley, maybe he's going for hard money first since it can be much quicker to receive than a conventional mortgage?

When buying a house from a private seller, everyone talks about "putting it under contract" and I understand the general concept.

Since banks will not loan to me for rehabbing I either have a choice of private money or a HELOC and in Michigan HELOC rates are cheaper.

They know nothing about running a business or generating leads and growing their brand.When they worked a job before they had no clue about all the behind the scenes stuff that goes on to watch the customer give them the business.

I have been in the background most of the time - listening, learning and privately messaging some of you like @Curt S, Ali B, Sharon V, Brian G, Marco S, Brandon T --And I have been getting a lot of value from this community of friendly, helpful and wonderful professionals.

I had a great discussion with @Brian Gibbons on private money.

Check with mortgage brokers/originators that provide private funding as well

It's a Samsung Galaxy S3, highly recommend it...So now, here is the video (it's the one on the right I believe):https://www.dropbox.com/sh/u6ucp6f4tnfnhsc/aNrYjaL929Now, let me give you all of the info I wrote down on a piece of paper about the house:Windows - All new (except big custom ones in the patio thing.)Custom Windows - 2 (One is 44in x 83in, and the other is 47in x 52in)Light Fixtures - 19Interior Doors - 9Exterior Doors - 2Glass Sliding Exterior Doors - 2Sliding Closet Doors - 3Furnace - 1How Water Heater - 1Cooling Unit (Refrigerated Air) - 1Besides this, I also have all the floor measurements for the floors!

I've done a lot of cut and pasting Edward Scissorhands-style of many posts on BP that address seller financing, but there are several differing opinions on the topic of whether or not it is necessary to use a mortgage...

So, getting started really means you must have income from some other source that you can use for the qualification process.So, you're really looking at private money (i.e., from someone you personally know) or hard money.