You don't need to have a property picked out, and what they will do is get you pre-approved up to a certain dollar amount, in relation to your income to debt ratio, reporting on your credit report.

Hello BP Investors,

I am currently in a situation where I am looking to pull money out of one of my investment properties to put down as a down payment on something bigger.

Being in Brooklyn and the expensive marke...

But in the end, it pays off, and allows you to be a part of a neighborhood's renaissance, which is rewarding both financially, and personally.

Quite often we read on BP about tenants who don't pay their rent on time, for whatever reason. The kids are sick, the car needed repair, pay day comes after the rent is due, etc., etc. Generally, it boils down to poor...

If you don't advertise it publicly but offer in private, you don't promise anything.If you do offer the premises for rent publicly, it has to be compliant with Fair Housing law.It's a slow time in rental business and if you never find who are you looking for, are you willing to take on financial losses because of that?

Hey BP,I'm looking for funds to finish my rehab project and someone told me about Sprout Financial unsecured line credit?

The devastation left behind by Hurricane Harvey could result in 300,000 new mortgage delinquencies, with 160,000 borrowers becoming 90 days or more past due, according to a new forecast from Black Knight Financial Services (BKFS).This new forecast is based on a comparison to the 2005 damage left by Hurricane Katrina, when mortgage delinquencies in FEMA-designated disaster areas across Louisiana and Mississippi soared by 25 percentage points and peaked at over 34 percent.The areas impacted by Harvey have twice as many mortgage properties as those impacted by Katrina—Black Knight estimated there are 1.18 million mortgaged properties in Hurricane Harvey-related FEMA disaster areas, with $179 billion in unpaid mortgage balances.

your learning that at some moments in the cycle development makes no financial sense..

I keep a running log of all properties that I get financials on in Berwyn, where I invest, so that I can know what expenses should look like on properties when underwriting. 

Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense.