There are many ways to approach or skin this cat.Typically lenders will say they need to get back to their system/software to determine how much they can back into your maximum loan amount remaining.

About this time the other tenant walks out of the kitchen with a headless, skinned carcass of a squirrel.Knowing that it would not be an odd question considering the extremely small country bumpkin town, I asked if he shot it out of one of the trees on the property.

Spoke with 4 people who responded to my yellow letters, which I consider a success in itself just because of the response rate I am getting and it is great practice.One was slightly irritated and wants off the list.2 spoke really poor english and were very hard to even figure out what street the property was on or who I was speaking to....one wants off the list and one wants 20k more than the property will ever be worth.One actually seems motivated and the call went really well......I asked the right questions and got the right answers......I go see the property this weekend.I also listened to 2 podcasts, re-read an article about Dodd-Frank and the SAFE act which made me decide that lease options aren't anything I want to do (or even can do) in Texas.

So my point is many ways to skin a cat in this game

@Jerry Poon Where you invest and fund a newly originated short-term loan (usually a rehab fix/flip) and (in our scenerios) the buyer has "skin in the game". 

@Tammy Wise CLR is a very good hard water deposit remover but it's pretty caustic on the skin and don't spray it indoors unless you want to die!

Had the rehab amount is $20K, and if he has at least $10K as skin in the game, then maybe I will lend money to a newbie.But with the high repair amount, a newbie investor with no skin in the game, it's not worth it!

Otherwise I spending all this time on someone who might waste my time and actually cost me money where I could be doing deals etc.When you force someone to put skin in the game they have something to lose.

The bank is going to want you to come in with skin so seller carrying the entire Dp isn't going to fly.Getting seller to carry 10% or half of the DP may work but the property is going to have to be one heck of a deal for the bank to still underwrite it with the 2nd note.

It's time for "gurus" to put THEIR education-skin in the game, FIRST!