I ask because even thought I have perfect credit, I have no savings or income (I'm a fulltime student) so I won't be able to qualify for a rehab loan through convential avenues.

I'd like to start fidning out what will be required of me by a hard money lender so that I can perhaps become pre-qualified for a loan.

For example, in MA they have a group called REBA (Real Estate Bar Association) as a Qualified Intermediary for 1031 exchanges this was a perfect choice for us to join as an affiliate.

Must I qualify for that with a lender before I go to the auction in case I win it?

I did finance the early deals until she could qualify for a mortgage.

WIth your skill set, you should be a superstar rehabber.

An owner selling by themselves can forego/accidently overlook certain steps in the transaction whereby a licensed agent would be compelled to expound i.e. inspections and disclosures.I would limit my exposure by offering owner financing bad credit ok with 5 or 10% down, then sift thru the possible leads for someone who qualifies for an 90 to 95% sub-prime mortgage or who has the best possibilty of qualifying for one in a year.

How can I get an agreement with the local broker that says if I find the buyer, I get 2.5%Also, I think with my sales skills, I can sell it for more than they have it listed for on the MLS.I am confident I can find a buyer, we need to sell the house quick and I don't want my Grandma's financial state to be in control of a non-motivated brokerage.

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).

The main one being your corporate structure.If you are planning on flipping houses, it's always good to first consult with a qualified accountant and lawyer who is knowledgeable in real estate.