The wanted me to take out the addendum "Offer contingent on Buyer wholesaling this property if the existing mortgage holder agrees to accepting a discounted payoff.

newlife, a contract is an installment plan where you don't get title to the property until you fulfill your payment obligations...a note, is just like going to a bank, and the seller will be the mortgage holder, just like a bank...the day you close, youwould take title to the property...btw, did you figure out a solution for this property?

It would change most buy-and-holders business model drastically if would get endless 4-5% money.

Hi, different types of ownership will not change your situation since any title transfer will require a release from the lien holder and at 90% LTV, that just won't happen.About the best thing I can think of is placing the entire property in his LLC.

In the even of default, the holder of the obligation has the right to secure the collateral, either by the terms of the deed of trust/mortgage or under the terms of the installment contract and the assignment of the interest.

As an IRA holder, it's your responsibility to provide current values of assets held in the IRA.

This could substantially lower your payments. you can now deal with your second mortgage and re-negotiate terms. since they know that if you did go bankrupt they could be stripped as a lean holder and get nothing.

Paul, I get your humor.As to the balance, time is the enemy of any investor, including the note holder.

Where you may have SEC problems is when you have partners comingling funds to make a loan.As to a broker, first, if depends if you are buying a mortgage with your own money, for your portfolio or if you are simply facilitating a sale transaction bewteen a note holder and another investor.

Hey guys,

I am at a fork in the road and am not sure which way to go. Let's assume I have 200k to rehab houses. I want to buy an apartment that will require 100k down and the rest financed. If I do that, 50% of my re...