So here's how it played out in my head.1) Get a loan from a Hard Money Lender for $120k.2) Find five properties for $100k or less.3) Use $100k of the $120k loan to make the down payments and keep the other $20k in reserve to cover closing costs and any minor repairs needed for the properties. 4) Get the properties rented out and within six months to a year, refinance the properties to pay off the original lender.Now, on paper, this idea sounded really good and I assumed it would be feasible. 

Banks will not typically lend for a home such as this for various reasons, and I do not mind as I do have the cash for it.On the negative side, I do not know what to expect in regards with initial repairs, and being a 100 year old home there are bound to be more problems down the road.

The fun part is dealing with all the "did this one close/fund" phone calls. 

Repairs/Maint and CapEx are 3% due to recent renovations.

Get repair estimates if required Re negotiate if required. 

He told me he can help me get my phone ringing with motivated sellers and help me close more deals.

Purchased mine in 2015 for $710k, added ~$165k in repairs, and most recent appraisal value is $1.23M.

PM me and get me on the phone I’ll teach you how to do it in an hour.

He’s been crawling around foundations and repairing them for something like 35 years. 

The homeowner has requested in loan modification, but the lender is uncooperating to help, and also cannot be contacted by Phone or Email.