Institutional lending is far too restrictive and time consuming, thus my need for an investment partner(s).Here is a description of my immediate need:Area: Aurora, IllinoisSales price: $125,000After repair value: $160-175,000 (CMA's from local agents)Repairs 90-95% completed by sellerClose: Tuesday, August 15 (one week from today)I have been working with an institutional lender on this but am running into "chain of title issues" because it was bought as a foreclosure by the current seller recently.

I pasted the description of some property I found on yahoo's real estate search engine.This property is a Notice of Foreclosure Sale.

Additional items required at this stage include a project description including amenities, preliminary site, building and unit plans; rough, estimated project costs; and environmental reports.

We just joined this forum and I have a short description in the New Member Introductions area.

I hope my description of International Preconstruction investing has not been misleading.

I’ve been in the loan biz a long time and I never met a lender who wants to loan to own.

My terminology and description may not be *legally* accurate but the concept is correct.

I AM saying that I've never met a single person that has done it.

I call this site my bible.I've learned so much and I've met a few interesting people.I now feel confident enough to a deal instead of sitting on my couch and reading rei books......THANKS BIGGER POCKETS..

Be very vivid in your description of your end result.