I remember those days..... Since 2008, banks scrutinize more heavily. I remember when they only looked at credit score. In those days, the higher the debt, the higher the credit score. And from my understanding, it's still calculated in a similar manner, they just now factor in debt-to-income ratio.Seems like a complicated way to buy a property, be it for investment purposes or otherwise.
I've simply bought, then sold when I wanted to, and the banks (when used) never knew or cared if I made a profit or not.
That's a nice profit. The best profit we made was on a lot we bought for $104,000 and sold it for $150,000 two years later. Right now, I'm buying cheaper lots and trying to make $6,000 - $12,000 profit, plus we now offer owner financing at 5%.So far I have, and while not the most profitable, one lot I bought for 16K and sold for 150K within six months is definitely the winner percentage wise.