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starting our journey

August 26th, 2012 | posted by CAV SCOUT

Ok my wife and I just started a few weeks ago and here is where we are:
1) 1-855 # Done
2) Ads posted online Done
3) PO Box Done
4) Created a Data Binder and one electronic one to track everything Done
5) Looking for investor groups in area to join
6) Started gathering POWER TEAM members

On 16:26pm, September 9th, 2012 CAV SCOUT said:

Question on financing

Had a question I hope someone can answer. I met with a banker I was trying to get aboard our team. Talking to him about trying to get financing to pay for the property and rehab then put back on the market at 80 percent for a fast sell. He told me that there was anti investor laws in place that state:
1) If I buy a house with Cash I have to hold it for 90 days before I sell it.
2) If I buy a house through financing I have to hold it for 6 months.
3) If I buy a house through financing I can't refinance it untill I owned it 1 year.
I am not sure if this is correct or if this guy is taking me for a ride. If anyone has any knowledge on this subject please let me know. and he also told me to stay away from Hard Money lenders to finance this type of deal???