Know the market, how to value properties, what the rules are and financing issues....then go for it!

I am just following their rules.

I decided to rule out #2 - it was too much of headache.

We purchase properties on the fly, fast closings & do not need to have anything approved by a 3rd party.We generally do LTO or just sell after rehab to buyers we already have lined up.We adhere strictly to arms length/no hint of a prohibited xaction rules.

An Ma, I don't know you at all, so I don't mean to imply that this automatically applies to you.It's the old 80/20 rule A structured program like An Ma describes sounds great in theory, but I think, based on past experience, that the better way to learn is to find someone local to work for.

I own a vacation home about an 100 miles away from my primary and that was a hard rule I stuck by.

Underwriting is as much an art as an ability to adapt rules, regulations and applicable law.Loan originators are problem solvers, they need to be able to originate loans within the guidelines and address the bumps that may throw up road blocks and coordinate the entire process.

Now there is a ton of competition from other investors, wall street, and even some retail buyers trying to get a good deal. 70% rule means that you take the future sales price or ARV of the home, then multiply it by .7, then subtract your rehab and carrying costs and this number is your maximum offer to make the deal work.

There are some investors who loan out to owner occupants but the new regulatory rules are making that harder now.

If this is the Wayne G I know, he know the rules too.