So the recap here is you have the capital and more of the admin/management and he is more on the ground and construction.

Time to adjust & think of new strategies AGAIN.

In those cases, I adjust the due date.

Being a major storm I expected some delays getting an adjuster on site.

One of the payment was negative, one was interest only, one was princal interest, etc... the 5 year fix has expired and now it is adjustable... her payment now is $2700 per month PITI fully amortized... my question is if i take this house subject to .. i am fine paying $2700 per month but becuase this loan is not fixed... is this a good deal to take out?

Hello All,I am new to these forums and would like to introduce myself.I am in my mid 30's and live in Colorado Springs.While I currently work in the Information Technology sector I have experience in both construction (10 years) and sales (7 years).

If, after damage, the propertystill meets the intent of MPS, Purchaser has the option ofaccepting the property as-is, with a purchase price adjustment atSeller’s sole discretion, or cancelling the contract and receivingrefund of full earnest money deposit. (2) If sale does not involveFHA insured financing, Seller will not repair damage but may, atSeller’s sole discretion, reduce the sale price.

If that is the case, perhaps the answer is to build better systems and better relationships (or more of them) so that you can increase your local deal flow.Flipping out of state without an actual partner with boots on the ground is a very tough challenge and only for the very experienced investors who can handle and adjust to the problems they WILL face.

There are no guarantees for renewals, you might ask about a longer term on an adjustable rate (there are no long term fixed rates at that loan amount that I know of as the lender needs a repricing opportunity).Good luck.....

The most leverage will be before the casino construction is started.