You guys have done an outstanding job of simplifying this material.

Basically - everything can be worked in your favor without getting banks involved.The benefit is, you can sidestep conventional loans, you don't have to have a perfect credit score, you have unlimited access to funds (because each deal acts as its own silo), etc.He has a pretty complex calculator that can generate multiple offers for each seller, so it gives them several options to chose from, ALL of which will work for you.I'm simplifying things a bit in this post (there is a lot to learn), but I can vouch for the guy.

Ill simplify the

Finally, this is not an easy business initially, but you can simplify it and make it fun and you learn and go along.

@William Nelson outstanding breakdown - super helpful and a great way to simplify it.

I will call them to see about this as well.It is a bank owned foreclosure and it was actually listed on the MLS before going through this auction process if that simplifies things as well.Thanks!

That was very simplified but basically when the lender runs title, they see that their was a previous loan thus bypassing the 6 month waiting period.

As such, the plan is only covering the employer and not anybody else's retirement savings, and the administrative framework is greatly simplified.  

For the benefit of simplifying matters, lets address the issue on the basis of an average close of $200k per property deal.Between agents fees and buyers closing costs (around $4k) and other stuff tacked on the the closing we end up paying about 10% closing costs on the average transaction.

@Darren Looker Lending is an ideal investment for self-directed retirement accounts and the tax analysis is simplified.