1724 sf4 bed, 2 bath1 StoryNo GarageListed Price $66kOffer/Purchase Price $70kOriginal Estimated Renovation Cost $31kFinal Renovation Cost $36kARV $140,000Sold $143,000Closing Costs at Purchase $4,600 (including $1500 that I pay my agent to handle Auction transactions)Closing Costs at Sale $10,200 (including 6% commission)Holding Costs (Loan Payment) $280 a month for 4 monthsHolding Costs (Utilities) $200 a month for 4 monthsHolding Costs (Yard Maintenance) $0Real Estate Commission Paid at Sale $6,600Note: I pay my agent an extra $500 on top of his commission to make it more worth his time.

I have never utilized his services personally but if I needed roofing done I'd certainly contact Dave Wandel with Charis Contractors.

And it is more common with regional banks.That being said, when I talk about Collateral Assignments in the podcast or my book, I'm usually talking about it in regards to 2nd liens where you utilize private investors.

This does not include your holding cost like utilities and loan payments etc.

I can't afford to come in last minute or miss a good opportunity all together.

I would check with a mortgage broker and not allow hem to run your credit u til you decide if you want to use them or not.

Their circle of influence and sphere will utilize them to invest and the license can be used effectively.

@Christian WathneB Neighborhood maintenance is still done, assuming they have been solid tenants and no issues, your lease holds them liable, temps above freezing and furnace at 45, they pay all utilities.

Also, make sure you ask for the financials/budget and meeting minutes. 

It will be reported as rental income.You will also be entitled to take ordinary and necessary deductions used to upkeep the rental business which includes items like repairs, utilities, mortgage interest, real estate taxes, depreciation etc.