And because of how the building is ventilated the smell of smoke carries into the other units.

Originally posted by Bill Gulley: One of the better posts. ....sellers who are exempt still need to use the same prudent practices....I am exploring, Bill the exemption for home sellers in that they do one seller financing in 12 months.Category One Exception from the CFPB is for those individuals, trusts or estates who do just one seller carry back transaction a year on a property that has a dwelling that the buyer will use as your primary residence.For these folks:1. ) you can have a balloon in your note the buyer.2.) you do not have to prove or document their ability to repay.3.) the note must have a fixed interest rate for five years,4). and at the end of five years, the interest rate can increase no more than two points per year with a cap of six points above whatever you started at.You have to tie it to an index like a TBill or the prime rate in the beginning.Say you had a low equity seller looking to sell on terms.You get the seller involved with a lease option assignment.You lease with an option from the seller.You assign the deal to a tenant buyer, but have the tenant buyer see a RMLO, do a 1003 mortg app, have the RMLO write an opinion in their letterhead as to their ability to repay.Now the Seller can create a trust or sign as an individual, as an LLC, Corp or Partnership is Category Two Exception from the CFPB.I would love your opinion of this.Brian

I know Im new to the whole investing and when I talk to my friends/ family no believes that someone my age can have such a successful future ahead and all because I have the self motivation to carry on my dreams.

I happen to like mobile homes as you can get in with little money and then sell for retail prices with some down and the rest carried back on a note at 12-15% interest depending on your state and what they consider usury.

To me there are 2 main points we need to understand for clarification.First, the "note business" is really three different but related businesses. 1- Private notes (such as carry back owner financed mortgages) being sold to either individuals or note buying institutions. 2- Mortgage "pools" institutional loans being sold as full pools, mini pools or one off by institutional finance companies of equity funds3- Private mortgage/hard money loans being originated and sold to individual investors.Each of these is a different market and has different rolls for the intermediary.

In addition, the indebtedness of state and local governments, as well as the debt carried by banks and other private-sector financial institutions, shouldn’t be ignored.

What I mean is they tend to have one plan and they plan to carry that out on all notes.

Also keep in mind, you will need to carry back the needed reserves for all of the investment properties.Good luck, I think you can get it done.

Well I shouldn't say lose you would carry it forward and eventually you could use it down the road.I like to max out my 401k from my employer because A.

will do. i was happy to see that everything would just carry over during the transition... but will find out if it goes well in 2 weeks..