Good luck on all of your real estate ventures.

Why would you want to pull equity from your personal home for your business venture?

At $250K to buy and $40K to rehab, if you can actually sell it for $315, you will lose somewhere between $20K and $40K.

If the default rate is reduced then the investors will lose money as they are betting on rising defaults.

I'd prefer to be able to sleep at night, rather than knowing someone lost their life because I was losing a profit in the short term.Just my two cents!

He has many many RI ventures, including casinos.

This property is a TERRIBLE DEAL as a rental and you will almost certainly lose a lot of money on it.

I have met people losing their homes to foreclosure now or have recently and the banks are not working with the HO's at all.

Once your broker gets that - you can have them start pushing things back upstream to get it closed.I even had a closer schedule a closing for 2 days away, to put pressure on the seller to get the paperwork done - knowing full well it wouldn't happen in 2 days, but it did happen in 5, instead of 2 to 4 more weeks of the file gathering dust.I am usually very persistent for my clients, as we really have nothing to lose!

When people lose sight of the work ethic or the value of money, they thing of work as something that they are forced to do.