@Junior SoaresLol Junior point proven ..

@Wendy Busa  Having your junior lien extinguished in a foreclosure is the answer to both questions.

The total preferred equity fund (more senior to sponsor but junior the the Bank loan as the 1st lien) will be 67%.

Do become aware if there are multiple liens...junior liens may require more money than the 1st mtg are willing to give, so structure your offer accordingly as guess where that extra $5-$10k will need to come from.

It's worse in California, since someone in the state legislature invented the term "Junior ADU" or "JADU" and wrote it into a law [without first consulting me], but Fannie Mae hasn't added it to her federal-level rule book.

Hello BP community,I am an up-coming junior in University of Chicago and am looking to purchase my first rental property through house hacking in order to get in with a low down payment (also just to save money on renting for the next two years).

@Michael Junior, the cool thing about owner financing is that you can kind of do what ever you want.First thing is to determine the actual value of the property.

Here in CO junior lien holders have nine days to file an intent to redeem.  

Junior

I guess they could name them Property A LLC, Farm B LLC, Condo D LLC, or John LLC, Jane LLC, Junior LLC or some other combination of names, but then might be hard when you trade homes every couple of years to keep track of or remember off the top of your head.