It is always best to have more than one lender.In Charlotte, we have yet to secure any finance, and we have deals on the table ready to go.

Tell the security guard:"I'm a property manager for ____ st""I'm a repo man, I'm here to get a car""I'm here for the open house" :mrgreen: I've also used a lot of lines that failed horribly.

Only agents can attend or participate as there is a security law issue for deals across state lines.

For example, you completely ommitted advertising, management (even if you do it), maintenance (even if you do it), legal expenses, evictions, setout fees, damage done by tenants (in excess of the security deposit), entity maintenance, utilities paid by the owner during rehabs and vacancies, capital expenses (although not technically an operating expense), lawsuits, etc, etc, etc (I could go on and on and on).The good thing is that you're at break even, so this is not a disaster.

You make a loan and get a trust deed back to secure the loan (in CA that would be the 'normal' structure).

They are required to put down a security deposit and I am getting better rent then what the area would normally bring in.

Two or three board members and the management co feel threatened, to the point of wanting law enforcement security at the next several meetings.

Look at the Security Deed and/or any Assignments and look for MIN followed by a 15 digit code.

Correct me if I'm wrong:1.A wholesaler finds the deal from a motivated seller. 2.Secures the deal with a "subject to" purchase agreement. 3.Flips the contract over to another investor.I understand between 2 &3 the wholesaler is marketing the property to investors, but what is he telling the seller all the while.

And that he has to pay interest on the security deposit after the second year - which he didn't.