The theory is spot on, in practice however that logic rarely plays out - at least in recent years where multifamily has been crazy.

Quote from @Virginia VanOeveren: To start as a private money lender, educate yourself on real estate investing and lending practices, define clear loan criteria, and conduct thorough due diligence on borrowers and properties.

.: It's not an issue IF their lease is scheduled to expire.My personal practice: when a tenant submits an application, I let them know I intend to contact their former landlords.

Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.

Here are some practical tips and insights based on my experience managing a real estate fund and working in this field.First, setting realistic expectations.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

In my experience, late payers often become non payers; so, I stick with the practice above.

How legit is their practice if you have an idea about it?

Quote from @Frank Barletta: It is more cost-effective and practical to install a large-size TV and get the Nintendo, Super Nintendo, and Sega Mini consoles.It comes with games preloaded, legal, and each to swap in case something breaks. 

When I used to have RE Broker in my title ( I still have the license just dont practice) I would get folks pinging me about Vegas about once a quarter or so and I would hand those leads to my Daughter  she made some pretty awesome connections from a few of those folks that bought multi million dollar homes..