Chime in.Many I know use multiplier numbers... some people use spreadsheets or programs... what say you?

Basically I just signed up for the Joint Venture program with Richard Roop who leans towards owner financing using creative strategies and a long term hold approach.

So your first step is to get pre-approved for a loan.

They have been very responsible tenants so far, but their lease just started Sept 1.Do I approve a sublet (it requires all the same paperwork and co-signer paperwork as a normal lease) which I normally do in the summer for students leaving before the end of the lease?

Did you get short sale approval from bank yet?

However, that will put me above the 4 loans that most lenders will finance.I saw on another BP thread that someone suggested checking out New Penn Financial since - according to their website - they have a real estate investor loan program which allows you to finance up to 20 properties.

You will typically need to include the pre-approval paperwork when you submit offers.2.

Look for the wording “Non-exclusive agreement” in their contract and confirm verbally with them that if they don’t produce a high quality tenant who you approve of, they do not get paid a commission.Disadvantages: The agent will not be there to help you when the tenant stops paying rent in the second month, so it is up to you run your own background check if you are not satisfied with the agent’s check of the prospective tenant.

If I was willing to approve them and I felt they met the condos criteria I would probably cover the $100 application fee for the tenant.

A lot of FHA underwriters won't approve my sale for at least 12 months under these conditions, so it would have to be a fantastic deal for me to consider this scenario and take this risk.