I would say we get better doing things each year, but here's the mistakes:Not writing a detailed plan outlining goals and alternatives as things change.Trying to do too much all on our own.Underestimating how long it would take to rehab without getting more help.

If your deal is really a $60K property you get for $30K, once your property is stabilized (and seasoned) you will most likely be able to get alternate financing (commercial, another private lender, etc.)

I know this forum naturally hates on gurus...but I do know someone in my local market that did the full course ($25k+) with these guys (among others).

One argument is that the BK code is not for declaratory judgement of this nature.

Marie mentioned, in these types of situations which are fairly common, the alternative to getting them to believe is simply file foreclosure.

Even when the drain pipes are properly pitched, the traps are always supposed to be filled with water and hence you have a point where the drain lines will naturally freeze if the space is insufficiently heated.

You know, things of that nature.

To aid in the discussion here are the new safe harbor reasonable steps:Fortunately, in the final release adopting Rule 506(c), the SEC adopted a non-exclusive “safe harbor” to provide some certainty that issuers are complying with the reasonable steps requirement for natural person investors.

The alternative is contacting some local banks, and get a single portfolio loan with all the properties as collateral.

It runs on natural gas.