Thus it is not proper for such a broker to undertake to devise the detailed terms of a purchase-money mortgage or other legal terms beyond the general description of the subject property, the price and the mortgage to be assumed or given."

Property legal descriptions need to be understood and due diligence becomes more complicated.

If asking too low, you may get derelicts.If asking too high, you may miss your target market.You can use various sites and A/B test by listing with slightly different prices and descriptions to find best price.

The secondary market limitation is by property, not by the number of loans, although fannie says it's the number of loans in the secondary but obtaining a blanket loan on 9 properties does not put you into a position of a small investor for underwriting purposes, 10 units, 10 roofs, 10 legal descriptions owned and financed by any means puts you in the RE investor category, need to live with it and get with a bank and begin setting up your portfolio as an investor in the RE business.

If the chain is messed up, even with a typo in the legal description, you could have big problems down the road.

Bottom lie I think your going to eat this one. hang in there. prepare for the worse and hope for the best.I just met a guy that gave $18k cash to another guy that promised him 12% return. well long story short this highly educated senior electrical engineer is out $18k. with no contract, or collateral he is out of luck.

No I'm talking about Offer to Purchase contract, it's basically a purchase contract but with all of the property description, terms, etc. but at the end of the contract it gives the seller the option to do a accept your offer, do a counter offer, or decline your offer.

certainly buying a property to live in and then moving from place to place is a solid way to build your real estate portfolio, but it takes time and discipline...if you're in a relationship with someone - that person has to be on board with what you're doing.i just recently met a couple, looking at homes in the 900k to 1.3million range.

Guidant Financial's web site also has a description.

I don't know, but from your description, that makes it sound like the back of your business card is very 'busy' in that there is a lot to read.