His bank was in a state like Indiana, while one of his companies is in Wyoming, and just all sorts of weird sketchy stuff that accumulated over the period working with him.

His subscribers are only succeeding at 1% of enrollees, and they have a bank roll to invest.

That's tough to do, even in California.Even if you borrow the equity from your current property, the bank doesn't give you that money for free.

As far as the sale of a property with a mortgage on it, that all gets sorted out at close. ie, you bring your money, the bank gets what they have coming, the realtor gets what they have coming (if there's one involved) and the seller gets the rest.

The goal is to keep these for rentals.I currently own the land personally and am funding the builds with a combination of HELOC and cash - no bank debt tied to these properties specifically.

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

But for you I would definitely leverage the banks money as much as you can and just keep money on the side for reserves.

Bank loan How did you add value to the deal?

Bank loan How did you add value to the deal?

Should the bank ever need to foreclose on the property, they can’t sell the building without the land or the land without the building.