Also are you getting a line of credit or conventional finance ?

I know I need to calm down but I am angry at my realtor because she didn't get CDL or SSN card or credit report, (the tenant provided the credit report), and I am angry at myself. 

Been poking around at creative financing as I don’t want to spend three years saving the equity for a down payment to secure a loan I can afford (credit isn’t an issue as I have a 720+ credit score).

The “agreement” he sent me is below (identifying details redacted):______________________RESIDENTIAL LEASE and OPTION TO PURCHASE AGREEMENTBUYER/TENANT: XXX Holdings, LLC Date: 2-16-2018SELLER/LANDLORD: XXXPROPERTY ADDRESS: XXXXXXRESIDENTIAL LEASE1) Rent: $2,500 per month2) Lease Term: 36 months, beginning March 16, 2018 and ending March 16, 2021.3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs ofthe property, not to exceed $500 per incident.4) Sub-Lease: Buyer/Tenant has the right to sub-lease this property with writtenconsent by the Seller / Landlord, and this shall not be unreasonably withheld.OPTION to PURCHASE1) Purchase Price: $ 345,0002) Option Period: 36 months, beginning March 16, 2018 and ending March 16,2021.3) Option Consideration: $100 - All Option Consideration will be credited in fulltoward the purchase of the property.4) Rent Credit: Buyer/Tenant will be credited $ 0 per month toward the purchase.5) Closing Costs: Purchaser will pay all allowable closing costs.6) Expiration: This offer shall expire on March 16, 2021.7) Inspection: This offer is contingent upon physical inspection of property andsubsequent completion of a more formal and signed Residential Lease with Optionto Purchase Agreement.8) Non-Exclusive – This agreement is non-exclusive and can be canceled anytimeby either party.9) Assignable – This Agreement is assignable with written consent by the Seller /Landlord, and this shall not be unreasonably withheld.X_____________________________ X ________________________________Seller/Landlord Date Buyer/Tenant Date_________________I have a few questions: Is this legit?

I have been reading a book called the bankers code It talks about becoming the bank and using lines of credit from a bank to then do private lending.If anyone is actually doing this and could give me some input about the tax implications.Private lending tax implications when using line of credit.

Here’s my unique position: Pros:- I’m employed- working in tech affords me a high salary- great credit- young (for now haha)Cons:- less than 5k in working capital for deals- young and inexperienced- in NYCThe easiest solution to get started would be to house hack but I don’t have enough money for the down payment on a high priced home.

[MP] Taxes you deduct when the bill was paid, and you will subtract the credit for taxes allocated to the seller. 

E.g. 1) Form LLC 2) Find credit union that lends to investors 3) Supply proof of funds, etc. 4) Receive pre-approval? 

I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn’t plan for that...

I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn’t plan for that...