(I would most likely be renting to college students) Second, are financing options hard to get?

Depending on the stability of the purchaser you might want to consider carrying a small 5 to 10% sub-ordinate lien but keep in mind that they (seconds), aren't worth anything should the borrower decide not to pay.There's 100% financing availble for individuals having credit scores as low as 570 sub-prime and 95% LTV starting at 540 provided they possess sufficient tradelines.

Flip this house isn't done but it still sucks bc what is going on is they picked a new flip company to follow around b/c the old company by Richard Davis is getting sued so basically they had to pick a new company for the Second season this sucks though this guy was funny and he seemed really good at flipping he does like 3 houses an eposide he is fast

The second and more disturbing thing that you bring to light is the thought that the brokerage is not motivated to sell the property.

I can hire pretty skilled labor for $9/hour down here and WE DON'T BUILDING PERMITS OR INSPECTIONS, and I doubt I could do a second story, add a bath for much less than $48.Regardless, $215 + $48 = $263, the RULE OF THUMB on rehabs is that your acquisition cost plus your rehab cost should not exceed 65% of After Repair Value (ARV).

i did my first rehab in this area, and i'm hoping to do my second one by the end of the year.

You're the second person today to speak to me about mortgagemoney for what amounts to a commercial loan -- it's a singlefamily residence, but for commercial purposes.You would need to find someone in NY who can write that kind ofa loan.

Of your two-part question I can answer the second part rightaway...Go to the "Create Real Estate Financing" topic on this forumand your wish shall be granted.Ta-Da!

Secondly, do the brokers still get their brokerage fee and are licensees making commisions on the houses they're "flipping"?

Could I have purchased the second mortage on the property and there is still a first mortage on this property or once this goes to sale are all the lenders notified and whoever wants to persue their share are added to the starting bid price.