Many of the smaller assets (5-30) are small operators who have not raised their rents to market and are leaving a lot of rent on the table. 

99% of the time it is paid off at the closing table of the sale of the property (post rehab) or at the refinance (after you have a renter). 

Hi Tom, This is a unique situation - some lenders may allow this as a departing residence excluded from the debt to income ratio. 

Collaborating with Jeff Dildine, who sourced the deal, enabled us to tap into unique opportunities.

Collaborating with Jeff Dildine, who sourced the deal, enabled us to tap into unique opportunities.

Collaborating with Jeff Dildine, who sourced the deal, enabled us to tap into unique opportunities.

Let us know if they come to closing table and you just got spooked. 

You’re not incredibly liquid right now but what about your credit, how much time do you have to find a deal, are there any skills you could bring to the table for a rehab or raising money?

I'll continue to do some contract work (from home) that pays around $1k per month, will substitute teach at my kids' school, maybe pick up a bartending shift here and there because it's fun and nostalgic (waited tables and bartended my way through college and the first 2 years that I started my business), and will chase curiosity to find my next low stakes venture - hopefully something that I can start with my daughters - who are 7 and 10.

The feedback I usually get is that buyers wanted to assume the loan but the process was lengthy and complicated, and buyers eventually moved on leaving the seller with no equity and option to sell other than writing a fat check at the closing table since they had to continue to lower their price.