Financing and Credit

I have read in Dean's books and heard people state they have received a check at closing. I don't think it's at sale because that would be obvious (sell for more than you purchased for), rather I think it refers to closing of a purchase. How is this accomplished (various ways I imagine)?

Thanks!
Ralph

Hello everyone. Has anyone ever seen the ads for Thomas Kish? He claims to have a program to be able to get unsecured business credit no matter what your personal credit looks like. He also claims to have a list of lenders that are willing to give a line of credit to new business'. Just wondering if any one has heard of him or have purchased his books and course. Sounds like a scam to me, but then again you never know.

Thought I'd share the new Craigslist ad I'm running. As always, feel free to critique, give suggestions. I'll let you know what response I get.

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12% return on your investment $ Guaranteed!

WIN/WIN opportunity! 12% APR returns!

Higher interest rates have been negotiated by companies without the notice of card holders.

What tends to happen is either a) the credit limit is lowered and/or b) the interest rate is increased. The White House is planning to crack down on the credit card companies ability to make these changes unbeknownst to the holder.

follow this article at: http://www.charlottesvillenewsplex.tv/news/headlines/43995252.html

USA Today posted an article today that identifies how 'first-time buyers'are being assisted in the many programs.
The better investors can know and utilize these programs the better the investors can unload, assign or purchase properties.

See the article at: http://www.usatoday.com/money/economy/housing/2009-04-29-first-time-home...

This article is found at: http://realtytimes.com/rtpages/20090304_homebuyer.htm on March 4, 2009

It seems like every day someone is asking about why it is so hard to get a real estate loan. Just two years ago anyone, and I mean anyone, could get a loan to buy a house or condo. Well, the times have changed and rules from the lenders have changed right along with the times.

Okay, so here's my sad story...I researched neighborhoods, found a few good realtors, borrowed some money, joined the PMI academy and made ONE offer and it was accepted.

It's a foreclosed property that I got for $42,000. It zillows at $175K. I put ads up on CL and did the PMI courses on HML. Talked to a bunch of investors, etc., etc.

The local investor who said he would fund the deal just called to say he won't do it.

I have one other investor/HML who is trying to get the deal funded but he hardly returns my calls and will email once a week to say he is working on it.

Our family is relocating to the DODGE/WASHINGTON County Area of Nebraska. Looking to acquire a property to live in, we need to purchase it on Lease Option - RTO. This would be set up on a 1 year term, in the mean time we will secure financing to purchase the home outright. I have several homes in mind already, and am very specific on what will work for us.

Here is the scenario I'm looking at.
We will locate &'purchase' the property below FMV
We will then assign the property to you at same price **Not at FMV which I previously posted-oops**

I'm new to real estate investing and to the DG family. I have talked with the Tax Club people and I'm confused as to which busniess entity to go with. I've narrowed it down to either an LLC or a C-Corp. From what I can tell they are very similar. I guess what I'm concerned with is which type would be better for getting and establishing business credit. I've heard some negative things about LLC's but I think thats because they are treated differently from state to state.

Finally after six months seasoning, I found this loan officer who said he can do the stated income refi loan for a REO we bought cash using equity and credit cards. It is difficult to have stated income loan now because we're self employed. After we got in escrow, signed the docs, the lender is Country wide, many of you may say, not country wide again... it is supposed to close in just three days, but it has been two weeks the bank still hasn't funded yet. The loan approval was done in Jan 2009!