Real estate continues to be one of the few avenues for small holders to grow their personal net worth and provide financial security for our families.

. $100.00Second-floor bathroom. 5‘ 3“ x 5’3” Toilet paper holder missing. $25.00Touch up paint throughout room all walls-trim, and sills as needed. $100.00Remove and re-caulk tub $75.00Replaced two light bulbs candelabra small. $5.00Master bedroom 17‘2” 12‘6” Minor point up throughout room Spot prime and paint as needed. $200.00Scrape sand prime paint and caulk three windowsills. $75.00Bedroom needs new hardwired smoke detector with 10 year sealed battery. $60.00Back bedroom 11‘4“ by 12‘6“ Mine are pulling up to our room. $45.00Paint entire room walls ceiling trim windowsills and doors. $250.00Remove and replace smoke detector with new hardwired 10 year sealed battery. $60.00BasementFront room 11‘ x 12‘ Wipe down walls and spot paint as needed. $75.00Middle room/hallway Remove and replace combo detector for 10 year sealed battery. $100.00Wipe down walls and light touchup on doors walls trim. $125.00Hall and stairs closet needs to be scraped and painted due to water/flaking paint throughout closet. $125.00Bathroom 5‘ x 7‘ no pop up on pedestal sink. $125.00Light touch up throughout walls trim sills and ceiling. $100.00Laundry room 7‘ x 7‘ Water damage on ceiling and walls.

So, with your 25-50% share in the profits for lending the money to the purchaser/rehabber, are you lending the entire amount, or at least the majority to be in the 1st lien holder position?

I will publish the final result as a shareable Google Doc.1) All exterior locks replaced by PMC2) Garage door remotes working properly3) Exterior doors - make sure they open/close properly and don’t stick4) Furnace - purchase filters and replace existing filter5) Smoke Detectors - replace batteries and test6) Towel bars - securely screwed into wall7) Toilet paper holder - securely screwed in8) Toilets - flushing and not leaking9) Sink - ensure they aren’t clogged and faucets aren’t leaking10) Replace 11) Have HVAC system serviced12) Replace dryer lint trap13) Ensure Co2 alarms have new batteries and are working

Usually there is either a multiple lien holder issue that can't be worked out, or the seller is uncooperative or doesn't qualify.

Obviously defaulting on the second would result in foreclosure affecting the initial lien holder.

Tom, are those confirmations of notice something that the foreclosing party would have or is it best to contact those lien holders to confirm they received notice?  

I greatly appreciate any insight.  1- You can get a conventional loan these days for as little as 3% down2-You could have your mom gift you the money for the downpayment3-Your mom could carry back the downpayment as seller financing as a second position lien holder (Primary lien holder AKA the bank might not agree to this)4-You could have your mom owner finance the entire thing.

Being a holder of a property worth $x == being a buyer of that property at $x

That said If I am the lien holder and I get a judgement for foreclosure I am going to fight very hard to uphold it.