Two phrases to look up are wrap around mortgage (sometimes called a wrap) or an all inclusive trust deed (AITD).In both cases you are effectively creating a second or junior lien above the existing 1st.

Effectively you can not do both.

Thank you for your response, I just wanted to make sure b/c even though it's such a small detail, small details can sometimes have big effects, like the contract becoming void.Thank you, Van :superman:

:pup:I was re-reading this and something popped into my head.The accountant is in effect offering legal advice concerning liability.

Originally posted by "Wholesaler":Originally posted by "happylogan":Are the foreclosure sites scattered about the web an effective tool for an investor looking into that market?

There are plenty of effective methods of web advertising outside Google ads.

I may or may not be doing it correctly.Here is the info from the property:Financial Summary Proforma Year: 2007 Scheduled Gross Income: $89,100 Vacancy: $4,455 Effective Gross Income: $84,645 Maintenance: $8,800 Taxes: $8,015 Insurance: $3,500 Other Expenses: $5,925 Total Expenses: $26,240 Net Operating Income: $58,404 Debt Service: $49,500 Pre-Tax Cash Flow: $8,904 Expenses/Unit: $800.00 Unit Mix Information One-story units No.

Hopefully, you have some doc to that effect, or can generate something.

He skips from OH to FL, effectively abandoning the property and lease.

Some have very focused efforts so before a deal even passes by their desk it is effectively pre-screened.