I have never done this type of purchase before and I'm not sure how to secure the financing.

Originally posted by "dal1":Also, this contract places the payment of termite and heating and air letters at the buyer's feet even though it's always been written that the seller will pay (buyer's selects company) in our state.Is this a regular contract, and the contingency would be that the seller pays?

If you are serious about securing funding and/or a joint venture, please email us a 1 to 5 page Executive Overview to: HCA Investment Firm, LLC Al Ferguson (404) 397-5913 [email protected] Skype address: alferguson777 www.highcapitolassets.com For more information go to: http://www.highcapitolassets.com/default.asp.pg-PrivateLoans "Service to help you capitalize your opportunities."

The lenders security is your property.

Tell them your situation, and tell them that if you can't qualify for a regular fully disclosed mortgage that you'll need to use a lender that lends based on stated income.

A property manager cannot just "keep" the security deposit for no reason.

They are much more complicated and expensive, so you would normally want to stick with a regular forward 1031 exchange where you sell your property first and then buy later.

There is the regular closing which will be about 3000, plus taxes/insurance, inspections, and what?

Close your eyes and envision the life you want to live.Really focus on it.....the home, cars, security, pride, etc.THIS CAN ALL BE ACHIEVED W/ REAL ESTATE INVESTING!

Germain ActWhen there is a mortgage loan secured by a lien on residential real property containing less than five dwelling units (1, 2, 3, or 4 max.) -- including a lien on the stock of a cooperative housing corporation (a “co-op”) -- no lender can enforce its due-on-sale clause due to any of the following prevalent circumstances:(1) The creation of a lien (or other encumbrance subordinate to the lender's security instrument) that does not relate to a transfer of rights of occupancy in the property;(2) The creation of a purchase money security interest for household appliances;(3) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) The granting of a leasehold interest of three years or less* not containing an option to purchase(5) A transfer to a relative resulting from the death of a borrower;(6) A transfer where the spouse or children of the borrower would become owners of the property;(7) A transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property(8) A transfer of the borrower’s property into an inter vivos trust in which the borrower is and remains a beneficiary and which [trust agreement] does not relate to a transfer of rights of occupancy in the property; or(9) Any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.