I must say it appears to be less risky.Snappy I wasn't planning on paying of the 1st mortgage but I didn't know whether it was a legal option.

There are lenders who are not concerned but those lenders will charge higher rates, have poor terms and pre-payment penalties in many cases. 6 or 12 months seasoning will open up all the normal lending options.As Scott mentioned you really need to understand the refinance assumptions before heading down this path.If you want to pay commercial rates and terms many commercial programs will let you use the appraised value.

It appears that some of us don't fully understand exactly what a quitclaim is.Thanks

Things that look good on paper aren't always what they appear.

Firstly, there are rehab loans for primary residences that allow for the purchase price + rehab costs + up to 6 months of mortgage payments during rehab + closing costs to be rolled into the loan amount (and an allowance of 6% seller concessions too)...As to your mortgage lady, she might; 1) not know, 2) not care, 3) not offer a rehab loan program that allows for these features (although highly unlikely).

A lawyer or a title officer depending on the state and the complexity.There can be some subtle things that should appear in the note.

I've never actually used excel or anything before, assuming that would be the typical program for setting that up.

First state with a bottle bill, first major metro area with an urban growth boundary (Portland), focus on green issues, right to die stand, exemption from the federal Medicare program so that they can factor in quality of life when deciding what is to be covered.OR tends to be split politically.

Got tired of playing landlord, and realized the big money takes too long to get, so I started up a new style of investing.My background is really in programming, more specifically web based application programming with databases.

Personally, I have his ebook and found it rather "skimming the surface" or wholesaling compared to other programs I've purchased.