You looking at about $66,500 using a 70% LTV of the $95k ARV this is not deducting repairs and assignment fees.You will be cutting his asking price drastically after factoring in repairs and assignment fees.

There is always the option of using a portfolio lender.$40k would be better if it were making you money rather than sitting in your bank account, so I'd say find a deal and pursue it!

I bought my first house in PA in 2008 for 75k and just refinanced it in October using a VA loan now it's rented for 523 a month and my mortgage is 437 I owe 65k on this propertyIn May I bought a 4 unit complex in Colorado and put down 60k on a 240k property that I have only been able to rent 3 out of the 4 units for the last year so it's paying the bills but not cash flowing a lotWhen I got back from Afghanistan in June of last year I got my real estate license in Vermont because I wanted to learn how others were making deals...I'm beginning to think the money isn't in being an agent it's in having a team of agents?

Therefore it is entirely possible they don't keep those kind of records unless the individual lender files something.Try using a list broker like melissa data, listsource, or usleadsBest of luck!

Lengthy contracts with too many fine prints will scare distressed sellers away and intimidate buyers :) I have many students in South Florida using a simple 2 page contract.

@Justin Cooper I would investigate using a S-Corp for wholesaling as there are a few tax advantages compared to a LLC for short term holdings - ie.

After that experience I would recommend using a property manager that's near the property.

You will gain a TON of knowledge and who knows - maybe you'll even find a partner or two.Knowing that there is a resource available to me that offers advice on pretty much any REI question has been a huge benefit to me and my business.Investing in multifamily properties by using as little of my own money as possible is my game.

I'm interested in using a hard money/private lender for my next purchase.  

Has anyone tested using a toll-free number vs a local number for their direct mail?