nice list there, but i wouldn't accept a personal check either...i'd hate to find out it's bounced a few days after depositing it

^^^exactly, you word for word called out the whole situation. 40,000 IS the payoff on the existing loan. no way im giving anybody 40g on a owner finance, like you said. im gonna call the owner direct, and work out a lease purchase or a balloon owner finance deal. he gets his money when i get refinanced, if not, like you said, bounce to a REAL deal.

My full time job the last couple weeks has been taking care of my 7-week old son, and I just saw this thread.As I've read through other replies, I keep bouncing back between two forces that drive my answer: cash-out vs. automation.Cash-out: The numbers have been run (I still ran them myself - my high school math teachers always made me show my work), and I agree that selling now and moving on to a new project will generate enough additional funds over the same timeframe to be the right financial decision.

You'll find this to be a great site to learn and bounce questions off of real experienced investors without trying to upsell you on anything!

BP is great place to bounce ideas as well.

Also, do what you say you will - don't give an earnest money deposit only to have it bounce or ask her/him to hold it until you have enough money in the account!

I still carry a bounced check fee clause also just in case.Honestly, you can draw the line wherever you feel comfortable, I just prefer to try and avoid any future issues.

IMO, anyone who uses money orders does so because they can't get a checking account probably because they bounced checks.

I figured I would pass, but wanted to make sure I wasn't overlooking something.This site has been awesome to bounce ideas off of.

I am looking for someone more local to me to bounce my questions off of, and it can be via email, because the person who I have learned some from is out in CA and I am not sure if it the age difference; the market difference; the experience difference or dome other thing altogether causing problems but he has me at a point where I am constantly confused about real estate.His constantly looking for the next way to make cash always kills whatever current project he mentors me on, and it makes me wonder if I am just not getting things.