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Are they the same?

I am trying to understand the difference between the two.

You are full of such wonderful insight and knowledge. I am so glad you are here to help.

Thank you for your profound and informative response.

What is the best way to find a few good Bird Dogs?

Let me clarify

I find a house that is say $360K with no repairs it has a retail value of $525K. A majority of the investors I sell to work on the 70% rule. Well this property is an excellent discounted property but does not work in the typical investor's formula (that I work with).

So I can't wholesale it but it is a good retail deal. I was jut trying to find another way to make a deal off this property.

Anyone have any experience using Owner Finance Mortgage Note Buyers?

I located some properties that need little to no repairs but they do not necessarily have enough equity in them to wholesae.

We were thinking about taking them down with hard money and selling them via Owner Fiance and then sell the note.

Is this a viable strategy? Is this a logical way to make some cash as opposed to cash out refi?

Thanks In Advance

He is not living in the house. My original tenant is living there. He was supposed to be purchasing the house and taking over the responsibility of landlording. The option was paid and collected 2 months ago.

I gave him a lease with the right to sublet, which was subject to the exisiting lease. He never took physical possesion of the property, never paid a lease payment according to the lease agreement, never returned the signed documents and never took responsibility of being the landlord.

The option was linke to the lease. In other words the person had to perfomr on the lease.

I had a verbal agreement with a purchaser. He paid the non-refundable option fee. I sent him the contract and he did not sign and return it. He never paid a lease payment. Approximately 2 months later he contacted me stating that he wanted his money back or he wanted to sell the house to a cash buyer.

When I wrote the lease option I wrote it in 2 steps, a lease and an option. There were no rent credits to be given.

Basically my question is - Is it a fair settlement to offer him a 50%refund of his option fee?

Well, I wrote a little note to said realtor and bank stating that I would not sign a release until I contacted HUD/RESPA, The Real Estate Commission and the Banking Commission for clarity on my right to pick my own title company. I got a call today stating that I could close at my title company of choice.