So here I am eager and ready to get started.My longterm goal is to reach a passive income of €2000,00 per month in passive income through real estate investing.My shortterm goal is to buy my first investment this year (2012) with a passive cash flow of at least €250,00.I have no equity at all, but I do see possibilities to borrow from family/friends.To be honest I am a bit scared to get started.

I believe there is a recent FHA guideline for refinancing underwater properties with borrowers who are current and qualify, it primarily addresses the property value with a government guarantee.

Then add to your list the past of the borrower and look for any relationship between the rehabber and the buyer.

I would think a lender when making a junior lien would have looked at the senior lien to make sure it was the same borrower as on their application.

Kiddie condo loan - I was initially hoping that I could get an FHA non-occupant co-borrower loan ("Kiddie Condo" loan) but two banks have called me back and said "we don't do this."

That gives the lender the right, but not obligation, to call the loan.Ways to come up with more cash include:- Borrowing from a 401k account (puts your retirement at risk)- Borrowing against existing property (puts your existing property at risk if the rental goes bad)- Selling stuff- Cutting spending and increasing savingYet another approach is to buy a property using hard money.

I think a lot of it is going to be determined by the investors intent (did they borrow borrow profits?

My understanding is that you should still have all of your FNMA "bullets" then and can borrow with them.

In other words, if you have a considerable amount of liquid assets, a lender will view you more favorably as a borrower regardless of your income situation / source.I'm local to Houston, TX and please let us know if we can ever be of further assistance!

But we've had other situations when one member of the family has borrowed substantial funds from another, for example for a downpayment when the first house hasn't sold yet, and so on, and it's been fine.