That all might change here in FL with the passage of a new "Speedy Foreclosure" Law, but it may be a good strategy in other places; and (2) investors are buying properties from the bankruptcy trustee as a short sale.With the right house - that has a homeowner who wants to stay, i.e. guaranteed cash flow from someone with an emotional investment in the house - and a bankruptcy trustee who sees the benefit of these strategies, investors can make a good deal of money in bankruptcy court.-- Shawn

i made a decision NOT to PG loans and put my personal assets at risk in order to become "an investor".i decided my own road would consist of networking, building a buyer base, building business credit, starting two seperate internet businesses and eventually start purchasing real estate when i and my partners are at a very advantageous position to do so.PGing (personally guaranteeing) loans, either through seller financing, HML, or conventional, was not something i, nor my partners, want to do.

You can negotiate an owner percentage without powers or a lower class partner in a partnership to pass out in a divorce and withhold payments to the lower class but pass out the income and give guaranteed payments to higher class partners.

A 15%+ cap rate is nice and will almost guarantee you positive cash flow.

Such loans almost always require a personal guarantee and the lender will look at your financial situation.

I would get the purchase price to reflect the cost of converting the garage back...there's no guarantee that the seller will do it correctly and get it permitted, so why take the chance...As for not qualifying for FHA, why do you care?

Call the building department (or whatever) in the city (or county) that has jurisdiction.I'll guarantee you, though, if you're talking about ripping out all the plumbing in the house and replacing it, a permit is absolutely needed.

I am a full time associate broker who has been successful for many years and business is hard enough without working for a guaranteed NO Commission.

So he’s getting a guaranteed return on that extra money.So the real difference is between $36k and maybe $100k on the high side. 

This guy guaranteed his crew of 2-3 of semi-skilled laborers around 20 bucks an hour, meaning he needed something like $1600 a week from me just to pay his crew.