Hello and good to meet you.With Sub 2 there are two mind frames... 1) Buy equity 2) Buy non equityIf buying equity then you need in my opinion 52k per deal or 25% which ever is more and then flip that bad boy and turn and burnIf buying non equity then you need to adjust you resell price by 6% per year of your call date...

So then the 100K and 5 points would be paid back on the eventual resell/refi?

I haven't done it on BOA but on a WF we just crossed out the 30 day hold part and the part that stated we weren't flipping and initialed it with a statement that said, "per the purchase contract, buyer intends to immediately resell"

XV.RESELL: Seller authorizes the Buyer to enter into a sales agreement to resell the property during this escrow period.

Location is only important as to the need to resell.

Apparently now they are issuing approval letters that Do Not stipulate that you must not resell the property for 30 days but once they approve the final HUD they are attaching an affidavit that everyone (seller, buyer, title agent) must sign stating that the property will not be resold within a 30 day period.Hope this saves some of you a little bit of a headache.Michelle

All Rents collected shall be prorated and said prorations paid to Buyer.XIV.ASSIGNABILITY: Buyer may assign this Contract.XV.RESELL: Seller authorizes the Buyer to enter into a sales agreement to resell the property during this escrow period.

I have to agree with buying Sub2 however I am personally not a fan of L/O or for that matter reselling where I am attached to the performance of the buyer.I like massive income and not passive income.

You build fear of the unknown.REI Statement: “My goodness, they write a 3-inch book about how bad your house is.†Note: This is instilling more fear and discomfort with this statement.Note: If you have never seen a home inspection done, you should call a local home inspector and ask to witness their next inspection so you can obtain an idea of their thoroughness.Note: This statement is reinforcing the idea that it is better to sell to you than take their chances on the open market.REI Statement: “I know that on average I spend about $2,500 in repair items besides termite control, roof certification, wiring the smoke detectors, reaching minimum standard requirements and other usual costs, and that’s just an average.†Note: This statement is again building the costs of selling and reinforcing the idea that it’s better to sell to you.REI Statement: “$2,500 plus $(X Amount) equals $(X Amount) in seller costs.â€Note: Again, write this and say it at the same time under the right hand column.REI Question: “I take on all of this responsibility and risk so that at the end of the day I can resell the house after I fix it up, and I have to make something and I have determined that my minimum is $10,000.

One of the members of the “audience†includes the lender on the resell of the property… and holding title in a name that says “I Buy Houses, Inc.†will trigger seasoning issues every time, where a name like Home Capital Investment Corp. will not.