Joe Villeneuve Responded on 10/26/2010

You don't need one. You can set yourself up with corporate credit that will do the job for you. This way there will be no approvals needed for each job, and you can close much faster...an important advantage when dealing with REO's. This also means nobody else to share your profits with. My source for this allows me to do all of these things an more. I'm in Michigan, where a real estate loan is one of the lines in an ongoing comedy routine. The vast majority of listings are "short sales" so traditional financing is out of the question since you can't get an appraisal high enough to match the payoff needed for the banks. There are many cash flowing possibilities out here, but traditional funding methods can't work. I just went unconventional, and wish I had long ago.

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