I would just say to the agent your only doing $1,000 because you are looking at some other deals to and dont want a bunch of money tied if something is to go wrong during the inspection period incase you need to close on another property.

Here is a little bit of advice on how to keep your costs down: Tie the mobile home up with a contract and 100 down.

Denise,Check a credit union regionally tied to your farm area.Tim

I don’t like it as a rental though because it ties up a lot of our capital and requires us taking on debt and makes the property negative cash flow.I do however like it as a rehab straight flip using off the books financing (Outside silent partners).So look at it like this.

As a matter of fact, the lender likes the higher sales price, it makes their equity position that much stronger.

Hi Rich- Great post and I feel that it ties in great with the book you recomended by Eldemen....

basically my partners & myself tied up a four plex all 1/1 600 sq foot for 1k down with lease option of 2 years, we can purchase property or give back to owner, plus the owner is carrying the balance.

I've done some research on the 203(k) loans, and it sounds like a good idea, but what draws me away is the additional interest over the life of the loan if i tie it in with the mortgage, which will cut into monthly income when the house rents later on.Should I take out a small personal loan to fund the project?

If you really want the property tie it up and go to the community/town hall meetings and ask the panel there for their support and then go to the zoning board for a variance to allow the tri-plex.

Hello,I am trying to find out if this is possible...So I am thinking about purchasing a reo property for 90k with private lending, and its appraised value is 170k ...is it possible to right after I purchase the property go to the bank with an appraisal and ask them to do a cash out refi or do I have to own the property for a certain amount of tie to do so?