As collateral, I can use 80% of FMV of any stocks or CD's, 90% of cash value life insurance, 90% of assessed value of my properties minus loan balances OR 80% of appraised value of my properties minus loan balances.I thought it was interesting that they will allow discounted collateral off of either the appraised value or assessed value, because there can be a huge disparity between the two (and assessed values are almost never accurate in my area).This particular lender will also occasionally do commercial loans on residential properties, but they will only do a couple of those normally (which is why I'm going for a BLOC).I am working on pulling my stuff together for them, so we'll see how this shakes out and how much I can get approved for...

Its illegal here in Texas too, but we are allowed to act as an "intermediary" with proper disclosure.

People need to open their eyes and put money in it's proper place.

Having a proper business plan, multiple exit strategies, and the ability to properly analize the investments are also key factors in addition to purchasing at a large discount in any economy, bad, or good.

Whatever doesn't come in to pay off the balance is what the deficiency agreement will be.

Right now, my business is still so new that I'm still worrying about building a buyers list as well. lol I have one rehabber who I have on my list who is always looking for good deals, but I do need to work on building a proper list of buyers.

It is a tricky balance, as Charles said tightening up your home too much can have consequences.Other reasons for this are, boiling water for pasta, lots of plants, even lots of people.

I just found out that the property is in pre-forclosure and the mortgage is a non qualifying assumable. the balance is 14,000.

I'm a newbie investor from NYC just starting out in the business.
I've spoken to some investors from NYC and they suggested since my funds are limited and my credit is bad that my best options right now would be to a...

I think that there should be a balance and you should if you can take some subject to because that will allow you to learn how to manage a property.See many as I am reading these blogs do not want to own properties they want to FLIP and make QUICK CASH.