Perhaps you shouldn't use the word "fixture", as appliances and other "personal property" are where misunderstandings can occur, if not spelled out.

Even 9.9% is far below hard money rates.Loans for commercial don't have 30 year amortization. 15, maybe 20.And they aren't 30 year fixed, either. 3-5 year balloons are common right now.1.25 DSCR is probably on the low side.Joel Owens works in this area and might be able to give more current typical numbers.Perhaps I'm misunderstanding.

Like Wayne Brooks I'm skeptical you can buy the note at all, let alone for a discount.You have a misunderstanding here, though:I buy my sister's's mortgage Note from her bank for less than what she owns on it.

I would hope there is some sort of misunderstanding with the agent.

You misunderstand.

Said the office ppw has gotten intense now and it takes them several hours to write the EC.....Also unless I'm misunderstanding your last statement, the nfip insurance doesn't cover anything that isn't under the enclosed walls of the house and garage.

Did I misunderstand your comment?

Matt: any idea why this misunderstanding about foreclosing on a note keeps reappearing here on BP lately?

However I think you are misunderstanding my willingness to share just about everything I do in my business.

Or there might be a misunderstanding.