Using a standard real estate contract is a better protection for both parties.

If the public library is the "poor man's university", the information and online learning opportunities on the internet takes that even further.

They are very helpfulMake sure when you do these loans you use a title company/lawyer to make sure all t's are crossed etc. and get it recorded to protect yourself.I've been involved in many of these loans make sure everything is written down and notes and deeds are recorded.This is just my opinion and past expereince.

Hi all,I am a 23-year-old who just moved to Minneapolis to start working full-time with a public accounting firm.

Try to protect that credit by not over stretching once you start doing deals.One rehaber who does a lot of volume uses an idea that is similar to what you have suggested.

As noted by others the public records should have all the liens that are recorded on a property.

Most sellers will tell you if you ask as they know you can largely figure it out based on the public documents.

Ray rarely speaks publicly but if you do get the chance to meet him you will be bowled over with his knowledge and interest in helping others.I am an owner of the guide and have spent time with Ray over the last 2-3 years (we both attend the Lenders Workshop where I moderate the evening and he is one of the panel reviewing the deals presented by the attendees).I have no stake in Ray's course or in his business.

State laws and the insurance companies protect board members unless their actions are egregious.

The trick is to spend less time meeting people on the web and more time contacting the owner or the owner's listed agent.Banks rarely sell directly to the public.