I had a chat with them on the phone as i was curious about the funding.. but came to the conclusion that the down payment ( the client made to buy) was probably what they paid for the property and the seller carry back note was the profit.. and then the seller carry back note is sold to yet another investor.. who is investing for coupon money.   

On recent projects that I have seen, LTV’s north of 70% are struggling to pencil out on.

Fund higher quality cosmetic / light rehab for durability and dignity for tenants.

Quote from @Denise Lang: Hello everyone,my wife and I want to start our real estate investing journey to boost our wealth and retirement fund.

But I know several people who made this mistake even after I warned them including someone who dumped 3M into a fund that promised to pay 10% return. 

Unfortunately it didn't turn out that way and my funds were tied up for 3 years.

I know it’s not a super helpful comment for your end goal but my wife and I are looking for a second rental in Virginia Beach if you were interested in freeing up some funds for your Pittsburgh expansion.

How long do you think the Hedge fund is going to place more properties with that Servicer?

In order to pitch for funding, we feel like we need to get a few basic ducks in a row.

Use the HELOC funds for another investment strategy such as funding fix and flip projects.