Financing and Credit

Is it true that i need financing for Assignment of Contracts, as well as checking my credit? Because several Real Estate agents have told me this. I get worried because I am so determined and so far I have business cards, a website and my 1-800 recorded message. I've went so far to get discouraged. Anny comments?

Why CRE Lenders Don’t Care About Your Credit
by Karen Hanover

In commercial real estate (CRE) the property qualifies for the loan and not the investor(s). The lender is primarily concerned with whether the property can produce enough income to allow the borrower to make the mortgage payment.

If an investor buys a single family residence to live in, the property will generate no income. Therefore the lender qualifies the borrower with regard to the ability to make the payments.

I'm 18 and just beginning to build my credit. I opened a secured cc with Bank of America for $300, I spend $75 a month on that one and always pay on time. I was sent another mastercard with a credit line of $500 and I am starting to charge $125 a month on that one. I got another cc offer from Discover for a cc. Soo, how much is to much? How many credit cards should I have, what is enough to build credit, is more better? If so then when do I stop?

Jeremy

I have a deal with a local builder to hold paper at 5% intrest on $439,000 purchase but....I need $40,000 as a down payment to the builder. does any one out there know where I can get it or how? The home is really worth $750000

DONOVAN ANNOUNCES RECOVERY ACT'S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME

FHA plan will stimulate new home sales and help stabilize housing market

Fannie Mae, a major investor in mortgages whose guidelines are widely followed, has increased the number of financed properties it allows investors to carry, from four to 10.

The change took effect in March, ending the four-property limit imposed in September.

This report was given in "Florida Today" newspaper May 24th.

This is great for investors. You can now own more than 10 properties on most conventional mortgages. This will open up HUGE opportunities for investors.

A friend of mine that recently started in real estate has found some good buy and hold real estate deals. He inquired to me that he has difficulty in convincing family, friends and professional busienss people he knows about investing in his real estate. He stated he gets frustrated because some people have offered to finance the deal but want him to do all the work and they want at least a 50% equity interest in the property. Other potential financers that have their money in a savings account earning 1% interest view his deals as too risky.

Hello all.
This is my first post. Got Deans books a couple of weeks ago - they are the the real thing! Been reading and studying ever since. Also ordered the "Think a Little Different"
Developing first deal. Been out looking at properties. I have researched this site for answers to the following questions but have not found them yet.

Does anybody know of any lenders that will lend with 62-63% front-end DTI ratio?

If so, please let me know.

Thank you much.

Hello all I am looking to purchase commercial property. Multifamily mostly. Only problem after 5 properties lenders start to say NO! So I created a system that requires no lender approval only someone with Excellant credit to partner with. I am offering 10,000 per deal for my credit partners. All is required is your credit and your signiture. All transactions will be under the protection of a corporation to minimize your risk.