I recently experienced a contract to close 12th November and closed 29th November and funded December 1st.

I had an experience with them where the loan originator gave the clear to close, buyer passed final contingency (final loan approval), then 2 days before closing RM said that it was actually still in underwriting and asked to push the closing date.

Until the claimant is represented by legal counsel.  

The other issue I would bring up is I know that failure to close the door on these properly can lead to a flooding but so can any tub.  

Originally posted by @Justen Rider:Mark Matos, you said you closed a loan with them but later said you canceled before closing because they tacked on tons of fees before closing.

Be sure to review your state laws to determine whether entity grouping is permitted—grouping may be allowed, but each LLC would still remain a distinct legal entity.For ownership structure, you may add a partner or operate as a sole proprietor within the LLC framework; however, I do not recommend using an S corporation for real estate properties.

Many lenders won't even lend to 6-plexes because the price per unit is too small for them, and the ones that do won't bundle closing costs, so closing costs can be well over 4%.We thought we found a lender that would get close to the terms I'm looking for (20% down, just over 7% interest, though still 2 loans).

It’s been a great learning experience managing it, and now I’m preparing to do my first flip, God willing, within the next 3–4 months.I have a close friend who’s also an investor in my e-commerce business, and he’s expressed multiple times that he wants to invest in my next real estate project.

Monthly payments & fees continue to accrue.Eventually, when legally allowed, a lender has the right to complete a foreclosure.

.• $60k purchase• $35k rehab• $95k total rehab loan payoff• 15% deposit = $14,250 "down payment"• $126k ARV (confirmed via refinance appraisal, borrower expected this to be higher)• 80% rate/term refinance ($100,800 loan) @ 6.75% [700-719 FICO]• Applied $4k of deposit to payoff for an updated payoff amount of $91k• Cover closing costs with 80% r/t refi + $2k back to borrower at closing (still considered a r/t refi if under $2k) + remaining $10,250 deposit reimbursed after payoff = $12,250 total back to borrower• $4k of his deposit + closing costs for rehab loan = his "cash" in the deal• $1,250 market rents• Total PITI = $765.62• DSCR = 1.6327 I do not see the hold costs.