If he says yes, use this formula, although it is grossly simplified because I don't know what area you are in: 1.

It really simplifies the process & helps thing move along at a rational pace.

Joe A, basically your thoughts above are correct but simplified.

Here's my simplified as possible scenario:in 2011, I set up LLC, bought and sold flip title in LLC, LLC made 25k profit on sale of flip.

Also, realizing the benefit of such a system would have a large number of borrowers following the over simplified and fairly inaccurate system cutting their mortgage terms down.

Happy to share our simplified version if you wish, Jordan.

I'd say the only upside is being able to act quicker and simplifying communications, not really earth shattering advantages.

But if they'll accept a simple promissory note from you instead, that would definitely help simplify the process - especially if you can't find a bank to do a cash out in the 6 mos and have to wait a year.Without the 2nd, you could refi the hard money loan out in 6 mos at rate and term and then wait the full year to do the cash out to pay your family back.Technically, you could still do the refi of the HML in 6 mos even with the 2nd mortgage recorded.

Ultimately, you're selling a solution - cash fast, simplify life, prepare my estate ...

Hey Zachary:Let me try and simplify this for you.