Once the form has been filed, the creditor establishes a relative priority with other creditors of the debtor.[1] This process is also called "perfecting the security interest" in the property, and this type of loan is a secured loan.[2] A financing statement may also be filed in the real estate records by a lessor of fixtures to establish the priority of the lessor's rights against a holder of a mortgage or other lien on the real property.

I know people who have gone much bigger on their first deal, but almost all of them have taken on more experienced GP members (sometimes at a heavy price in terms of GP percentage).Food for thought -- in this business, you need to build a reputation as a closer -- and size does matter.

Food for thought.  

Just food for thought before you sign up for a partnership!

Hey BP Community.A few months ago (pre-COVID-19) one of my seller-financed note holders approached me and asked if I could accelerate the payoff of the note even though the note/contract still had many years left before being due. 

What if one is sloppy and leaves food out and the others are clean?

Note holder sells the note after 1-2 years?

Just food for thought before you sign up for a partnership!

A new Whole Foods is going in down the street so I was thinking of just getting it under control and waiting until property values climb like crazy. 

.—(1) Within 14 days after receipt of the written request of a mortgagor, a record title owner of the property, a fiduciary or trustee lawfully acting on behalf of a record title owner, or any other person lawfully authorized to act on behalf of a mortgagor or record title owner of the property, the holder of a mortgage shall deliver or cause the servicer of the mortgage to deliver to the person making the request at a place designated in the written request an estoppel letter setting forth the unpaid balance of the loan secured by the mortgage.