Your market may vary, but the reality is that nearly three fourths of applicants want possession immediately, so waiting for checks to clear is not a reasonable option for them, and it's dangerous for you.

I'm 27 and have lived in Fort Myers, FL for nearly 4 years (originally from New Hampshire).

I'm pretty sure that Ryan is correct about the usury laws, and anyway if you charge so much interest that the investor who's borrowing it can't make a profit you'll end up with a bunch of property that you don't want.I've made some HMLs and I've never charged anywhere near those numbers, although with points and fees I make sure I'm NETTING a very nice return.For those kinds of numbers you have to become a "payday" lender.

If you would be interested in letting me help you out on a project in the near future please pm me !

I have not purchased a house yet but planning to do so in the near future.

I have some investor friends who invest in the Cambridge area and it is definitely an expensive area (Harvard Sq, Porter Sq, Central Sq, Cambridgeport, Davis Sq), but I'm almost guessing the multifamily you're getting is near East Cambridge near the Galleria?

That saves another 15%, depending on your tax rate.There's a lot more too, so constant discussions for your situations are necessary.JW

I am constantly putting out marketing to find distressed property in the area, and I often get more deals than I can handle on my own.If you would be interested, I would like to offer some of these great deals to you.

I've constantly had my eye on the quick, big prize of flipping properties but have recently had a reality check and realized that maybe this isn't the best route to go.

Pricing isn't nearly as nuts to the east as it is out there.