In this instance what I would do is get the deed in lieu from the borrower so you ahve the property again and get a note from them but have an attorney draft it to see if you can include a confession of judgment - meaning if they do not pay then you can get a quick judgment and possibly garnish wages.I would also have them put a small down payment as part of the note and only accept a check that way if you ever did garnish you have a copy of a check so you know where they bank.unfortunately you are right they can stop paying on the note and its unsecured so its a risk but out of all the options this is your best option.

He's one of the most efficient, effective & solution-oriented experts I've ever worked with.

Part of this is regulations in my city, but after having done it this way, I wouldn't ever want to do it with a single family home.

Hey everyone,In today’s market, it feels like making deals pencil out is tougher than ever.

Actually, an ever growing number of Americans are investing in Europe and they're welcomed with open arms.

You can buy a house that need lots of work that's another way, do as much work as possible be the project manager how ever you can help to save money .BIG pockets can jump in on a MLS ride it out .

Plus if you are in MA, you will be close enough that if you ever have any issues it's a short drive to the property.  

I have two other properties with that bank so if they make my life difficult ever I have a lot loans I can pull from them and move to other banks.

If you ever want to share insights or chat, feel free to reach out.

I’m Hey Adam, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.