: "The trustor grants to the beneficiary (me - note holder) an irrevocable option to purchase the property, including all contents except for personal property (chattel), for the sum of ONE DOLLAR ($1.00) upon being offered for sale or upon the death of trustor (borrower's/buyer's name)"2.

@Don Barlow I'm both NZ & US Citizen / Investing. if you dont have a NZ based income it would be a challenge for you to borrow money in NZ.

Instead of saving and having to wait 7-10 years to buy, I borrow now thru the HELOC and divert the savings to paying the HELOC down.

I am also a licensed real estate agent so I want to be sure I have a rock solid minimum requirements form for all of my tenants.Wondering if anyone would share something you have used/borrowed etc.

There are two main aspects when dealing with a borrower and protecting your funds.

I would not need to initially borrow any money for acquisition or rehab, and then just cash-out refi.

I'm a top shelf borrower with 800 credit score, over $150k cash and multi million dollar residential portfolio. 

Will someone that is, in effect, getting 100% financing for an investment property pay a double digit interest rate on 25% of that sales price worth of borrowed money, if it means they get the FNMA 30YF interest rate on 75% of the borrowed money? 

Most Private Lenders won't know about those things so it is up to you to make sure they are accounted for.The real difference to me is Private Money is lent based primarily on the relationship between borrower and lender.

Most HML I know do run credit checks on borrowers.