Posted by Nicole on June 15, 2006 at 08:54:27:
Credit, and speed are the main issues. My husband is the one who brings in the income, but has credit promblems, and I stay home with the kids my credit is a little better than his, but I can’t prove income. We have foumd several vacant or run down homes in our area, we would like to try to buy low, rehab and sell for a small profit, until we can move on to bigger RE deals. I wanted to use a Hard money lender, to do 60-65% of the LTV on the rehabs. We just can’t do it with conventional lending.