Originally asking $152k for wiggle room, buyer offered $145k cash.

Originally asking $152k for wiggle room, buyer offered $145k cash.

Yes a MLO is different, they qualify the buyer and keep you straight during the origination process.

Best case for most investor buyers would be if a tenant is month to month, so then as soon as you close on the property you could present the existing tenant(s) with YOUR new lease with your preferred terms and likely higher rent rate, and then they will either accept or you can negotiate or decide to give them notice.

Basically, in cases where you take on debt in order to make a distribution to the owners of a business, the portion of the debt related to the distribution may not be deductible. 

A SFR is very easy to sell and has a much larger pool of buyers.

To indicate your city / state, as well as basically introduce yourself - just edit your profile.

I can vouch for Clayton Mobley strategy that he just described because that’s basically what I’m doing.

And also something I’m quite nervous about finding in this area are rehabbers and buyers since I’m not getting a lot of investor responses around Marysville.

But as first time home buyer, you could get into FHA loan for 5% down - so it means all you need is 20-30k for a 400 to 600k transaction (which you can borrow for 401k) but you still need to improve your income to qualify for the repayment.