Some banks may lend as a HELOC on the rental property, or refinance it, but you're right you'd have to get your mom on board for that. 

Purchase price: $1,000 Cash invested: $15,000 Sale price: $34,500 Bought this property from Detroit Land Bank Authority.

Check with some local banks in the area and tell them your plan.

This is because preferred equity investors are lower on the capital stack and are commonly paid after the bank is paid.

Almost every dollar I make (active or passive) has a job when it hits my bank account.

I mean since banks wont make these loans under these same terms.. you would have a financing desert..

But then again every lender that is not my commercial banks I find frustrating. :)..

If there’s anyone that attended one of these MFM seminars and is considering it, let’s connect as I believe we can create a win-win and you can actually be an investor rather than a piggy bank for shops like them.  

A duplex, triplex, or fourplex is ideal because the more units, the more financing options banks may offer.

Hi Shawn, When I left banking during the last major crash and started this company, we primarily were a commercial bridge lender, but we also were a real estate investor.