Purchase price: $351,900 Cash invested: $351,900 Duplex 3/2 What made you interested in investing in this type of deal?

Even for just one type of loan, each lender has can have their own index and spread.

We're pretty new to the space and have our first potential client.This is a common mistake, anyone that rents a str should use a str license agreement.

There are a few types of people who will buy your end of line flips….1) Those that will only buy truly safe … battle born… “equity the day I buy”.. opportunities And/or2) those that were trained to see real estate investing as a much more risky “ investment”… in other words  “ a buy that “SHOULD” have value after appreciation”With Buyer group #1… if you provide truly investor grade deals that haven’t been stripped of most of the equity before you try to flip, you will build a following of investor grade buyers that WILL pay cash and CAN close “ as soon as the title search is done”… This will net smaller nets for you initially , but you will own a REAL Buyers list… that WILL have the experience… to REALLY CLOSE ASAP.And that will make your machine run MUCH more smoothly.Or2) you can initially max out your net on a few deals as you scape out most of the equity for yourself… but you will only be working with non experienced buyers.. who will buy ….one… realize that they are in WAY too deep… have no B plan.. and they will be FAR less likely to buy again… AND they may never even make it to your first closing .So.. your choice… cultivate a crop of GREAT slam dunk , low work load real buyer investors…. where all you need to do is find the property , mark it up a LITTLE ..and we do all of the rest of the work…Or sew a crop of weeds…I do spend a little bit of my time asking wholesalers to take me off of their lists.I would love to buy from you.I don’t want to spend my time doing the initial marketing.I am willing to pay for your valueBut I don’t buy properties that don’t have TWO exit strategies1) enough equity AT CLOSING so that, at the very least I could sell it TODAY without taking a loss…..AND2) after my expertise …. 

I have a few clients who are trying to sell / buy land and mobile home type investments, I'm curious do you have a good source for things to know, the code for mobile home parks, etc? 

I don't lend in NY (we do investor loans in most of the country and consumer loans only in FL, but we do nothing in NY), so I don't have a dog in the hunt here, but don't discount other types of loans, including a loan designed specifically for flipping.

You don’t have to do that much (relative to many other types of business).But that’s a double edged sword. 

Sometimes it’s the hard money lender sometimes it could be someone elsePlease also note most hard money lenders also can seek a deficiency judgment which is the balance owed on the loan after it is sold at saleIf you are a borrower you can also work out a deed in lieu which is when you give it to them without going through this processWe recently received $200M in these types of defaulted loans to bid on, so we are starting to see and uptick in defaults.Memphis area had over 50 on the list.

I certainly don't know for sure, but it's possible the H&W either took title as tenants in common or they got divorced which reduced their entireties interest to tenants in common. 

@Chris Seveney i spoke to them today and was told they are not the proper dept to handle this type issue.