In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

I’m originally from Long Island but have always wanted to buy in NYC and potentially settle here long-term.

Within a year we had 3 or 4 originators, 2 or 3 processors, and a full-time admin assistant. 

Originally posted by @Joe Sera:@Christopher Smith when you 721 into the UPREIT you receive Operating Partnership Units (OP Units). 

Being a NYC resident (originally from Long Island), the price of entry in the area is on the higher end, so I've been considering some options in the NY Capitol region, as well as NJ and CT.

I reach out to the original borrower and ask them what’s going on.

Since the original mortgage stays in place, you only need to ensure the reinvestment equals or exceeds the proceeds.

Originally posted by @JJ P.

How does the middleman (investor) exit out of the sandwich lease option once the investor finds an end buyer to close on the original purchase price between investor and seller?

Originally posted by George Paiva: How do you know she does not have the heat on?