At 70+ I think he should spend his last years with peace of mind.

I have been using them for a while and it is good for peace of mind.

Because what you want, is to live peacefully and enjoy all the things you want down the road, right?

For me, it's also about having peace of mind at the end of the day and knowing that everything is going well with my investments.

But, I have more peace of mind with this (current) one.Don

It will be cheaper and easier than trying to get the seller to do it (for an REO), and while it's a PITA, if it will help you sleep better at night, it's worth it.For what it's worth, I did this for the first 5-10 properties I bought, and the peace of mind it brought was worth the effort/cost.

I'm not sure the Justice of the Peace would see it the same way.

Sometimes being at my day job I feel at peace if you know what I mean LOLChris

I am curious to know from the BP members at what level of leverage on your real estate investments do you feel that you can sleep at night peacefully?

There are 3rd party loan administration companies that will also "professionalize" the loan transaction, and give the lender more peace of mind.Many advise, for the security of the lender, that you execute a couple of additional documents: (1) document permitting the lender to deed the property to themselves if you are more than xx days late on the payment (often 30 days), and (2) an assignment of rents, allowing the lender to intercede with the tenants and begin collecting the rent directly if you are more than xx days late on the payment (again, 30 days is common).