For the mortgage you are looking at, you will be buying the mortgage on which apx 80K is due for apx 14K.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I buy, add value, and build from the ground up.You are retired, and based on your picture, you are not old.

Investment Info:Single-family residence buy & hold investment in Stigler.

I intend to buy another multi-family home in 2025, but not sure I would want to move.

Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..

I've been buying and renting here since 2009, the deals are hard to find these days but definitely out there!

Quote from @Eric Gerakos: My wife and I buy many “fractional” notes where we live in California.

We value building deeper relationships with investors with whom we align perfectly rather than having superficial relationships with everyone who wants to buy. 

Investment Info:Single-family residence buy & hold investment.