This is exciting to meet local like-minded individuals.Looking forward to connecting.

If the answer is no, be mindful this will create a more difficult sale when exiting the position down the road. 2.

Remember this: the answer is ALWAYS no when you ask.Having said that, I've been able to get several seller finance deals.You need to have a motivated seller who doesn't need the money at sale.

Quote from @Drew Sygit: @Aaron Raffaelli we're also in Detroit area, so let us know if you need help with anything.Edit to my last reply:I just a saw your post from yesterday talking to someone about the Classes you can expect around detroit, and that did help me get a better understanding, but it did bring a new question to mind. 

Piece of mind?

Exactly, I have that in my mind and thinking of 2 weeks time.

These are questions that have stayed in my mind through every episode I've listened to.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

My purpose behind my decision to pursue REI is to gain financial freedom for wife and I, my future family as well as have the ability to make sure my parents are well taken care of once they reach the retirement age.If I had to label myself I’d want to be known as an open minded rental investor for all long term, mid term and short term investing, with the occasional flip for quicker capitol to put back into another rental.

Also what is working today does not mean it’s going to work in a year from now - people can ask multifamily and others how that has worked out for them the past two yearsResidential in my mind is going to see some shifts which I see a lot of bad financing “not creative” that they think is creative and it will come back to haunt people