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.

At first I wanted to start out with stocks/bonds/debt/securities etc.

Operating expenses include taxes, insurance, management (even if you do it), maintenance, advertising, utilities (at least during vacancies), capital expenses (although not technically an operating expense), entity maintenance, legal fees, evictions, court costs, evictions, damage done by tenants in excess of the security deposit, I could go on and on.At any rate, you left out all of these expenses, which means your negative cash flow (even with your interest only loan) would be a monthly LOSS of about $768 per month (over time).Good Luck,Mike

I am trying to get into REO'S and I need a hard money lender or 2 to secure the financing.

If you have ever read a standard note and trust deed used by mortgage lenders, I would bet a good attorney could find 20 things many home owners are breaching in their agreement on a regular basis… i.e. parking commercial vehicles, or operating a business from the premises...

Hopefully you have some security deposit.Jon

So, I'm not at all sure that all the negativity about loans is justified.I do have excellent credit; never missed a payment on anything; these are full doc loans; and I am buying these properties at about 40% of market value, so there is a huge amount of equity in the deal and the bank will therefore have a lot of security.