I don't like the practice personally, but it does exist.Can't remember if I mentioned this before in this thread, however, if you concentrate on older assets (say 90 or 120 day DOM listings), you can find some extra motivated sellers where bid wars are vacant.

Then it can just be supplemental if investing isn't making what I need right then.Congrats, happy investing, and keep us posted (and motivated)

Usually you'll find motivated sellers and for some reason their property didn't sell, sometimes because the property condition was not on par with the asking price.

Here are my reasons:http://www.biggerpockets.com/renewsblog/2010/02/24/should-you-get-your-real-estate-license-investors/Btw, while it wasn't my primary motivation to begin with, the best reason I now see for having your license is the ability to control your deals, especially if you'll be selling your properties (in other words, less important for those who are buying and holding).But, access to the MLS and extra profits are two other important reasons...

Enforcing your late fees usually motivates them to pay on time in the future.Sometimes paychecks don't line up with the first and the tenant will end up consistently being late.

He's a rehabber too and and I'm helping him make offers on REOs as well as scout for motivated owners.

All I would do is send a letter stating that the title will be transfered, however, the payments will remain paid on time.

When you buy under an option, funds would be applied first to the note to pay for the right to buy and the remaining amounts toward the purchase price remaining as the option price is usually credited to the initial price agreed.

If you take title subject to the mortgage and it's not assumable then you run the risk of triggering the Due on Sale Clause in the mortgage and having the remaining balance due and payable on demand.Sounds like she had one of World Savings famous "pick a payment" mortgage which was cloned by a few other banks and now owned by Wells Fargo.

payment remaining.