Recommendations:
Short Sales:
If you are looking at a short-sale, don't automatically assume that conventional loans aren't an option.
I've closed several short sale loans in less than a week.
With preparation, a conventional loan can take only a few days more to close than a hard money loan.
Conforming Loan Sizes:
Stick with "Conforming" size loans and select properties that are smaller and will still sell or rent in a slower market.
A conforming loan is less than $417,000 and a "Jumbo" loan is greater than $417,000.
REO Properties:
For first time investors, REO (bank owned foreclosures) properties are a great way to buy wholesale.
You have time for due diligence, inspections and closing a conventional mortgage.
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