Most of the people that were joining (like most seminar attendees) had no real knowledge, credit or funds to actually invest in real estate.

The borrower may postpone the sale in order to obtain cash, provided the written request for postponement identifies source from which the funds are to be obtained, and the postponement is only for one business day.

Do you have the funds to buy and do the rehab?

Any help needed.Use hard money, private money, or your own funds to purchase then use a conventional lender to pay off the existing loan or get your cash back.

To utilize this strategy most effectively, use an entity, an LLC partnership is recommended for rental properties.If you are looking at projects requiring rehab, you can take private money loans at set interest rates (similar to a HML) use their funds to rehab the project, then refinance and cash them out.

My wife and I were planning on funding an emergency fund to cover unexpected maintenance and vacancies, but were hoping to keep that money and finance the property with a 100% or 95% loan.

Which is a RE based mutual fund.

But you better have a killer postcard and even better sales pitch if you are going to go door to door..and a lot of time on your hands :) Because once they are posted they are going to get bombarded with flyers and phone calls.You don't always have to have cash...but you do need proof of funds.

Our notarized contract stated that these funds were to be used as payment for a specific apartment complex.

Would banks accept that as proof of funds?