I finished their free 5 lesson video training, which was great.

They might even hit you with a disbursement fee.Such loans are made in transactions where a business is purchased and inventories might be acquired along with finished goods over a time frame, they can be used to purchase several properties as well over time but usually where you know what property and the sales are delayed, often for tax reasons for the seller.

If you're a new investor with limited funds, you're best bet is to find the lower price point counties in the DC area and focus there- Prince George's County, Waldorf, Anne Arundel, Montgomery (certain areas), Baltimore, etc (really most of Southern MD is pretty decent)Trying to go into the District itself as a new investor can certainly be done, but a) prices are going to be higher than surrounding areas so for the same amount of money to spend you're going to do less houses, and b) it's harder to comp properties- DC property values can often vary block by block, proximity to metro station matters, finishes matter, whether or not they've 'dug out' the basement to increase ceiling height matters, the exterior style of property- federal, victorian, etc matters.  

I recently finished a book entitled 'The Big Score: Getting it and Keeping It, Buying Power For Life' by Linda Ferrari that has good strategies and helpful tips for correcting credit report errors, as well as a lot of other good information.

Agreed with Jon...I would never trust an architect (or anyone other than the actual contractors you'll use) with cost projections, for lots of reasons:-  He doesn't know the contractors you will use-  He doesn't know if you'll be be GCing it yourself or hiring a builder-  He doesn't know the finishes you'll be using-  He doesn't know your ability to negotiate prices-  He doesn't know your level of experience and ability to make cost-effective decisionFor our most recent project, I had architects projecting $125-150 per square foot for construction. 

In my humble (and often worthless) opinion, it's the colors and finishes of a house that give it that classic feel (or that modern feel) vs. the sectionalization (new word perhaps) of rooms.

Subject Property - $105,000 (cash)Renovation - $70,000 (cash)After Repair Value - $260,000 - $275,000 (could be more depending upon the finishes)Here is where it gets tricky...- Holding Period: 1 Year- Renovation Time Frame: 3 - 4 MonthsI would buy this property under the FNMA guidelines of the First Look Initiative which allows Owner Occupants the first "stab" at purchasing the property before Investors. 

However, when you HAVE finished the rehab, you will be in a good position to play that Realtor off against another when it comes to negotiating THAT fee.  

The property had to be finished rehab and leased at least before I can do anything. 

People see the cash, and start to see the finish line....