Is the property cross collateralized?

Again, most of the major banks cover this specifically in their approval letters (that you as a buyer would need to sign)...Wells has a "no resale for 90 days under any condition" clause in their letter.Chase has a "no resale for 120 days unless you 'substantially refurbish' or increase value" clause in their letter.BoA has a "no resale for 60 (or 90) days" (I've seen both) in their letter.The standard short sale contract in Georgia actually has a "no resale for 90 days" clause in it, though I always cross that out before submitting my offer.In fact, I just closed on the purchase of a short sale last week where Wells held the first lien and Chase held the second, so I had to sign both of their approval letters.

If underwriting comes back with conditions, it will likely take a minimum of 48-72 hours to clear the conditions, so if they come back multiple times, this can stretch the process out by weeks.If the loan officer or broker is good, they will have ensured that all the T's are crossed and I's are dotted, and there is less chance that the underwriter will come back with conditions.

The idea crossed my mind of putting photos of the houses I am mailing to on the postcards (mostly pre-foreclosures).The question is: do you think this would get peoples' attention and cause them to read the postcard, or just freak them out and turn them away?

Some random things that have crossed my mind: residential maid service, commercial janitorial service, carpet cleaning, towing, bed bug remediation, contracting/painting...

We like to think more strategic and long term.We don't specialize in creative financing including cross collateralization or equity sharing.

You haven't really said what your goal is.If you have money to place without the headache then commercial triple net you can land 7 to 10% annually with mailbox money.If you only have 10k to your name and trying to hop off your first deal then be upfront with the commercial agent about your ability and resources to do a deal so nobodies time is wasted.Even if a seller ponders financing you they want skin in the game (personal guarantee,additional upfront escrow payments as reserves,cross collateralizing other properties you own,etc.)Otherwise a seller can sell off only to have the buyer run the complex further into the ground and take a bigger loss taking it back.If you take out with private money or hard money for a value add the property has to be dirt cheap because the debt service and points will eat up any return you have until you stabilize and refi out or sell.

I see money taken away from me and used to pay for the medical care of elderly who did not plan for their own retirement health care.Now the government has gone so far as to tell me what size soft drink I can buy and force me to buy a private sector product and if I don't, I pay a penalty.You would think that a government this intrusive would at least protect it's International Borders, but they refuse to even do that.

I have my fingers crossed but I'm doubtful at this point.Oh yeah, they have a habit of fighting late at night and she yells and slams doors, like at midnight.

You will gain experience in things that J Scott mentioned, closing procedures and probably a lot of 'marketing' techniques among a few other things that could probably cross over into investing.My honest advice(I am both an active investor and licensed agent) is if you're new to real estate all together, don't consider getting licensed until you've got a handle on being an investor first.