There's a reason that 2nd above 80% LTV are called throw-aways.Let's pretend you buy the note for 5k, then spend whatever it costs to foreclose (not sure on this as I've never had to go thorugh with one.)

You're investing your money at 0% return, and pretending the property is making you a return.

"pretends" to be taking care of some unfinished business...

I have read a bunch of info about finding them, finding buyers and then working magic (won't pretend to be even close to competent at it) but it is all pertinent to the US and I want to know if I need to get my CSC (Candian securities course) to be able to middle-man a note sale.Anyone have any advice on the ins and outs of the business in Canada?

I do not pretend that expenses do not exist, I merely pay for these expenses when the time comes from a reserve account.

Also, homeowners in default vacate their houses for any reason they see fit...mostly because they are done caring about the property...they have to leave anyways, why not move on with their life before they bank evicts them.It is also no concern of the investor why the homeowner chooses to move out.If you can swing it timing wise it is a good deal for several reasons...the house doesn't sit vacant....you have somebody living in it that knows the deal (you disclose to them exactly what is happening and charge them a monthly rent below market value)...they can show the house for you if need be...the utilities get paid...and the investor can make some positive cash flow while negotiating...let's stop pretending this is hurting anybody...and most of all...dont make me think for a second we are concerned about the lender losing money because the investor is profiting....its the homeowner in default on the hook and nobody else.

Many new investors like to pretend that these expenses don’t exist, but I assure you that they are very real.As far as 100% financing, Jon uses them in the calculation to evaluate the quality of the deal.

In addition, many people fool themselves by pretending that certain expenses are off budget.

Pretend this is the most important term paper you've ever written for your most demanding college professor.

I currently work as an IT Project Manager full time and Real Estate in my spare time, but anyway, never ever reply to any unsolicited messages from banks or what may be pretending to be your bank or PayPal.