All Forum Posts by: Kyle Brumenschenkel

J,
I'm definately not saying your giving bad info. I'm just trying to get to the bottom of this. Thanx for your input.

J,
I just spoke to another lender who also said there's a 6 month seasoning requirement. Do you think this might be specific to FL? Also, whether 90 or 180 days, are you sure it's from closing to closing because I looked at some past topics which said it was from purchase closing to sale contract not sale closing which adds anothe 30-60 days.

I've been talking with a lender about financing my first home and immediately after, buying investment properties. She told me yesterday that I must hold title on a property at least six months before selling to someone who is buying the house by financing it. This can't be true! Can it? She also says that In order to sell a house for more than I bought it, I must show improvements I've made that warrant the price increase. Basically she's saying you can't do your homework and find a deal on a property and immediately resell it for a fair price. That's crazy. What does everyone think?

Thanks Jon!

Is there a way to find out the payoff balance on a loan in order to have a better idea of what price to offer a seller.

I am a newbie currently working on a business plan and ready to do some deals. I see great opportunity, in my area, in buying forclosures at auction for quick resale. I need capital. I'd like to here everyones input on [how to approach] investors and especially [what to offer] them. For example, should I pool all the money together and offer everyone a percentage of each deal or have each investor put up money for each specific deal? What percentages are typically offered? All the input I can get on the subject, no matter how broad or specific, is greatly appreciated.

I love this site! I've been reading forums for weeks and as a person not in the business it is my main form of education right now. Thanx to everyone