I chose to go with the Iphone completely for business purposes because it's faster, less time consuming to setup, apps are better(also there are some apps that I needed to use on IOS that aren't on Android at the moment).

So this app is apparently only available for iOS?

I run an Iphone 4S with the latest iOS version, and am setup for BP texts when I get a PM.

We got another IO loan with them a couple of months ago at 3.2% with a 58% LTV.

Get a yellow legal pad, a good dark pen, draft out a quick, punchy message, and write it over and over.Keep it simple.

This is a  "Subject-to" transaction, hopefully using two notes.A seller is willing to take I/O for 20 years is probably 1 in a thousand and they will be taxed just as Greg is, make that 1 in 10,000.I'd bet Greg doesn't mention the other issues with a Sub-to, foreclosure, Greg can only foreclose on his interest, that could be paid off, the note to the first seller is pretty worthless, that can end up going to the state in a medical issue, then there are risks of bankruptcy, law suits by other parties, collections and servicing, deed transfers, insurance, liens and the list goes on, which is why you should not do long term subject-to deals.      

.______________________________________________ The upfront agreementIn order for the upfront agreement to work, you need to frame it as a very fair, 2 way business agreement.Here is a possible exchange…After the walk through, you’re sitting at the kitchen table, looking at both mom and dad the sellers.I fold my hands and I looked very solemn, I try to give them is kind of an expression is possible, as sincere as possible, I have my legal pad, a pen, and a blank letter of intent in front of me.I also have a folder of comps and rental information on the subject property.So here’s the upfront agreement…Investor: “So Bob and Susan thanks for the walk through, I just wanted to talk about how I’d like to see our business relationship work.My job is to look at the property, look at all the financial information, then make a decision, on the spot.To keep coming back over and over thinking about possible deals is not what I do.What I do isif the location is right,the condition of the property is right,the layout of the property is right,the existing financing payments are right, andthe attitude of the sellers are right,then my job is to put together the deal structure that works for me,and I basically give the project the green light.Not a yellow light or a red light, but green light,the analogy here is that we go forward and get the paperwork done tonight.To keep coming back is not a good business plan, takes up too much time and nothing gets done.

The offering was a 506(b) and the minimum investment was $100k.An SPE (single purpose entity) was setup to acquire the property and we formed an LLC.I secured a bridge loan through a hedge fund who gave aggressive financing at 84% LTV and a rate of 6.25% I/O (interest only) and I was the loan sponsor.

I would probably counter offer subject to lending compliance at 8% either amortized or I/O depending on how that loan is classified.

Their money comes in various tiers of interest (some IO bridge financing, some equity with preferred return, some class b equity, etc).