yeah, that's the problem with the rentals... they suck a lot of initial capital and takes awhile to recoup what you put in. in addition, takes a lot of personal sacrifice to save up the capital for the second and third one. that's why the first year we bought 2. both took 4 months to complete each. this year i purchased 8 and renovated 6 so far (some turnovers too). best i can tell you is find cheap deals. every dollar you save in the beginning is a dollar you can put in the business. set a goal and dont get discouraged. even if you end up with just one, it's one more than 96% of the population (guessing)

I have lent but I knew and greatly trusted the party I lent to.

So my question is, is this 100k lower limit a constant limit or is it my limit because I am investing/third home mortgaged? 

This part I am not too sure on, but the warranties are tied to the original purchaser so it's not transferable, as far as I know.If anyone else had a difference experience I would like to know as well.

We meet on the third Tuesday each month at 6:00 at the El Camino Country Club in Oceanside.

The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014.FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located.Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping.FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state - and federally - chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.The regulation, including its exemptions, is still in effect.Quick Links and ResourcesReview the Federal Register Notice (Docket No.

This journey has been VERY trying at times.My first commercial bank got bought out and would no longer loan to out of state investors.My second bank wanted 25% down, plus 6 months worth of reserves for the properties, plus 6 months worth of reserves for my other properties, plus 6 months worth of reserves for my primary residence (even though it was a commercial loan), plus 6 months worth of my credit card payments, plus the tax returns of the seller, plus the lease agreements with the current tenants.A third broker I was dealing with didn't understand for some reason I wanted it to be a commercial loan even though I repeatedly told him so.A fourth banker finally got it, was responsive, and reasonable.

Thank you, J.If your buyer's lender cannot have a signed contract before day 90, get it under contract now with an addendum stating that all parties agree to replace the contract on day 91 then send the new contract off to underwriting.

Usually I'm against this kind of stuff but for $150 and something that absolutely benefits both parties, I would say consider it.

My fiance and I have been getting turned down for rentals rather it be through a rental company or private party, we dont have the best credit but we have very good income coming in even after taxes being taking out.