that works.. when you get a lead send them straight to the lender to get qualified once they are sell it to them.. same as any other transaction..

well what I would do is tell the seller the house needs 45k.. and since he holds the first you are improving his collateral therefore its safe for him to take a smaller down payment.Maybe offer to escrow the rehab funds so that if you say your going to rehab but don't he can go in and grab his 25k that is not coming to him in the form of down paymentlet him be in control of that 25k in some manner.. that may work.Its just like when I tie up development ground if I have a very cautious seller..

How do underwriters calculate DTI when I have several leased rental properties?  This may seem like an obvious question, but my last experience is that there is more to it than [rent payments] - [PITI] - [1% repairs]I...

The QI must be an unrelated party to you and to the transaction.   

There may be anywhere from two to 12 transactions on your property per year.

You can also get real estate transaction info for free from your city and county and then look for individuals and LLC or corporations buying multiple properties for cash.

Question I have regarding the transaction and use of funding.

The ideal situation would be something affordable in the west suburbs of chicago that's a duplex/triplex/quad type of situation.We don't need positive cashflow since they would live in one of the units, but if the other tenants could get close to paying 50-100% of the mortgage that might be a good enough solution for them.Any safe/liveable neighborhoods you'd start looking idea?

Hello everyone,I am trying to learn about house flipping, concentrating in the Chicagoland area.I have always heard of many contractor horror stories, I don't want to fall into this trap.How do I find an excellent contractor to flip homes, that is safe and does a great job?

Still fairly safe neighborhood, lower middle to middle income. $100k to $200k houses, higher concentration of multi-family properties, and middle of the road apartments."