I’ve been self-employed for about 8 years and about the last year I decided to pursue some real estate investing once I was comfortable with my knowledge.
I’m not looking to rehab properties, unless its minor cosmetic. I intend on wholesaling or flipping the contract to a rehabber, take my money and run.
I would like to have access to a HML, or at least a pre-qual letter to back-up my offers if necessary. If I can show a realtor or distressed homeowner I can pay cash and close in 30 days I’m golden and I have a much better chance of closing a deal at 70% OR LESS of the ARV.
What requirements are necessary to get a pre-approval letter from a HML? What are the terms?
Talk to me, I’m ready to roll as soon as I know which end is up.
Thanks for your time