I can do better both as a borrower and a lender.

Even though my main exit strategy was to the sell the note, sometimes you end up either doing a work out (restructuring) with the existing borrower or completing a foreclosure.

I do not wholesale, but a lot of people find it a good way to make some cash when they don't have any to invest, and learn the ropes a bit..You can also get creative on your borrowing or lookk at FHA and start a little buy and hold.. good luck!

In addition, the primary residence is still there and can be borrowed against if needed.

This puts me borrowing 40k from the bank.

Most hard money lenders I know also use ARV calculations to base determinations of loans for borrowers.

If you absolutely hate not being in debt, you can always refinance those and become like the majority of the others out there, house rich but cash poor.You cannot borrow your way to real wealth.

I don't know how much you are borrowing, length of loan or interest rate.The bottom line is the property is probably worth more than $500,000.Hope that helps.

If you’re asking about specific fees, rates, and terms, these tend to be regional so no one other than a local borrower or lender will be able to answer that.Jeff

I can't give you a recommendation to either, but I can address a misconception.Brokerage fees can be paid two ways, from a borrower or from a lender (I guess 3 ways as fees could come from both).It depends on what kind of loan it might be and what type of broker they are.