Interest applied to the original Loan amount, and not to the remaining balance.2 - 20 year term to payoff.3 - Payments would be made monthly for P & I.4 - Interest over 20 years @ 10%/year = $10k/year for each loan.5 - Principle payoff per year = $5k/yr/loan6 - TOTAL coverage needed = $15k/yr/loan or $30k/yr based on $200k in loans (both loans)This allows you to use the funds as many times as you want, but only have to pay for these funds once. 

If you win the bid, you have to get your paperwork and funds in quickly or they can withdraw the offer.   

To fund this I am working to build liquidity through wholesaling.

A lot depends on you: your expertise, your comfort level, funding, bandwidth, team, and whether you have a network of experienced investors to reach out to for questions.Best!

Hi @Maritsa Cortes welcome to the BPIn West Philadelphia I was born and raised.  

Finding money is nearly impossible for a small business when you write everything off and wondered about trying to raise money through crowd funding?  

My initial goals in real estate are simple: 1) learn as much as I possibly can 2) find and fund my first deal.

Could I still decide to walk away with my earnest funds?

I have $10,000 in emergency fund and don't want to touch that.

The place needs a lot of cosmetic work, but is essentially solid and we want to buy it with IRA funds, and then use it as a rental.