It's basic and easy to work with.

Basically, the underwriter will see that you pull out $250k from your rental to pay down the principal of the primary residence.Say you're currently owe $800k on your primary residence at 5.75%.

I am basically half way there.

Basically a challenge.

I like his basic info, just disagree with "how easy this all this" as he presents it with getting private money from anyone and everyone.

The most basic question you should ask yourself is, do you like engineering and want to be an engineer?

Otherwise, just have to do some tricks with "creative financing", and owner financed properties.

The "implied warranty of habitability" is not going to impose crazy requirements on you, it just means that your place can't be really, really nasty and lack basic amenities.

Many brokers have gone correspondent because of this, which will allow them not to disclose origination, and therefore still charge more.A correspondent lender basically has a line of credit from a direct lender, it uses it to fund the loan, and them it sells the loan to the direct lender.Make sense?

Spreads on short sale flips are basically gone, and homes w/ equity that are in foreclosure are a rarity these days.I've had a lot of luck using the Non Owner-Occupied and Free & Clear leads.