I’ve been a reiclub lurker for some time now, finally decided to post. I have 5 properties and all done FHA or conventional. I decided to start looking again after about 2 years and I’m looking into HML and creative financing. off the bat I would like to know the following
-
What books/dvd’s or cd’s are you guys using to teach you more about creative financing and short sale… I’m not trying to get any course b/c they’re all expensive and alot of these courses are just context w/o the content.
-
For those who’ve done HML do they lend there 70/80% base on the appraisal value or purchase price?
-
I’m looking to buy and hold. Has anyone ran into any problems trying to refi so you can pay off the HML…
I was also disappointed to read that HML don’t lend their money as Down payment.
-
Has anyone ever used a credit card for your down payment? This economy tapped me dry b/c I had to help my family now i’m stuck with no money for down payments.
-
Can someone list the procedure someone will go through with hard money loans, for example do they just give you a check already made out to the seller or to me? Here’s why i’m asking that question b/c if it’s made out to me. I can take the money I would need for a Down payment and put it on a credit card. while security my loan from a bank. that will give me a 100% no money down deal and anything that’s left from the HML. I use that to pay them back with their own money and then refi and pay them off the balance.