A mentor is an individual whose trust and respect you’ve earned with your deeds, and who wants to help you succeed because they thinks you are worthy – that’s it.

If I send 15K to pay off the car, my monthly obligation will be reduced by 270.

The loan would cover closing cost, 6 months pre-pay and sweat equity/cosmetics on the property.The person who does the loan will earn 12% for 12-18 months on the $50,000 which is secured by the Real Estate.I think I set up a win-win scenario, any feedback would be appreciated.

It's the difference between earned income and unearned income.

With a 30 year you can always add extra in your flush times to reduce the time of repayment at your option.

You then sell those and only get hit with a capital gain tax instead of earned income bracket and you put 400k in the bank.

But in this case, I feel obliged to do so in order to warn others before they put down $10,000 of their hard-earned money.I have been a "Preferred Investor Group"(PIG) member in San Antonio for a little bit over a year or so and have purchased 2 houses thru Lifestyles.I choose to post with a psedo identity as it is not pragmatic to criticize a organization after paying a hefty sum in advance (which effectively precludes you from using services from other organizations).I disagree with some of you who may claim that some of the below points are trivial.

If you don't have other options, and you're confident that you can still earn a profit despite the HML fees/costs, then there's absolutely nothing wrong with HML.A lot of successful investors got their start using hard money, and I know some very successful investors who are STILL using hard money today (though at rates a bit better than typical hard money), because it supports their business and growth model and is their best financing option given their particular situation.Personally, if I were to go through all my cash and private money, I'd happily use hard money if I could still make money a deal.

The value of the home will be dramatically reduced compared to similar homes in the area since it is in a mobile home park.

This not only might reduce cost, but also reduces family pain of moving, burden on other family and you'll have the luxury of moving in a less hectic manner and over a couple of weekends perhaps. thinking out loud, you could get something under contract, close in 60 days, then have tenants move in 2 weeks or 1 month later depending on how quick you can make things happen.