Here’s the winning formula successful local house buyers and wholesalers use to connect with sellers, close deals, and create win-win solutions:Be Relentless: Show up every day with positivity and persistence.

On the positive side, since it is in a pretty decent location, it is fairly easy to keep these rented.

Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.

Once I've done that multiple times and I'm getting positive feedback on my numbers it will be time to begin the real journey. 

I'm passionate about teaching real estate in underserved communities and helping others build wealth through knowledge.Looking Ahead: I’m seeking local and out of state investors, lenders, and professionals in the Atlanta area for STRs and MTRs, and in Birmingham, Phoenix, Columbus, Macon, and Augusta, GA for long-term rentals and small multifamily deals.Let’s connect if you share my vision for creating real estate that not only generates wealth but also builds lasting, positive change.

Wondering if anyone has had positive experiences. 

That may have a positive effect for you.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

The 1031 positions the investor into a property that the REIT absorbs as @Joe Sera said in the 721 conversion. 

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