It is going to be very hard for her to do a retail sale right now.It's funny you mentioned contacting her about an issue.

Mostly, I would stick with residential...although under the right circumstances, I might consider an office or retail property (industrial areas and industrial properties carry a lot of environmental risk and probably best avoided) That is my 2 cents.

Deal Types Residential 1a. wholesaling, option flip or double close 1b. retailing - rehabbing, hard money or private money 1c. seller financing - sub2, wraps-aitds, installment sale, lease w option 1d. buy retail w bank financing 1e. private lender financing, they are bank, you buy it and pay PITI 1f. jv financing - their credit and money, you do work, you split net profitNew Financing Needed 1b) retailing, 1d) buy retail with banks, 1e) private lender financing, 1f) jv partner financingUse existing financing 1c) seller financing, no credit needed, low downpayment, dodd frank issues maybe, maybe notNo Financing Needed 1a) wholesaling, 1c) seller financingPlusses and Minuses 1a. wholesaling, option flip or double close - needle in a haystack, 1 out of 100 motivated sellers, hard to negotiate a 50% of appraisal deal, need to know your Cash Buyers rules and be patient with your marketing, takes 4 - 7 months to get traction, many wholesalers - rehabbers throw 2 - 4 thouseand a month in direct mail to get deal flow, not all leads are good, you need patience.1b. retailing - rehabbing, hard money or private money - Biggest profits, needs to be organized, needs to know construction, manage builders, deal1c. seller financing - sub2, wraps-aitds, installment sale, lease w option; with no equity deals, you can buy on terms and flip the contract; free and clear houses you can buy on owner financing and rent out.

Instead of putting down 20-25% cash on the next house ask the bank to see, if you could put down "your equity" in your 1st house.This will work if:you buy below retail, like some house with ugly green carpet or purple walls that is not selling.

BTW - I have excellent credit.Option 1:The area and type of property I'm looking retails for around $200K.

He is asking for retail price.

In return you give themshort sale, retail leads that come your way.

We have a solid relationship with them and just utilized them to close a recent retail strip center purchase.Other than that, it's a really large space that no one is touching, especially for under $1MM loans - unless you want to go hard money.

Question #1:Short answer:yes, usually.Longer answer:It depends upon the model that is being used.There are models, i.e. predictive tools that forecast various outcomes.Some models predict the likelihood to become 90+ Days Past Due (DPD), to declare bankruptcy in the next X moths, to open a retail credit card, to open a bank card, to open a premium bankcard, to revolve a balance, to pay down debt . . . . well, you get the picture.Most often closing a credit card does hurt one’s credit, i.e. depress a consumer’s score, because the credit card’s available credit is removed from the denominator (all credit available) that is used to calculate utilization, the mix of credit card changes (esp. negative if the credit card is a higher-end card), and one’s credit history is shortened (assuming the closed credit card has been open for some time).Question #2:The quickest way to increase one’s credit score is to use of the many outfits one sees advertised, i.e. credit repair, credit fix and one will usually see a quick bump.However, like eating candy when one is tired, one gets the sugar rush (the increased score) but there is always a crash (when the bureaus catch up to this questionable practice).

The market for properties needing rehab for retail is tight.