It might be perfect if you want to have a conversation with your parents as they could read the book before having the discussion.

We start our conversations and the moment the investor is told that we’re wholesalers; he/she wants to hang up.

Conversely, if y'all know anyone in the larger comercial REI area you would be a kind soul to mention me to them, Id be very gracious.

Conversely, if the lender then sold the property at a loss, they would not expect the previous owner to make up the difference.

Find out what zoning applies and see if it allows for the conversion.

I'm glad you decided to join up and get involved in the conversation after lurking around for a while!

BTW when you hire an attorney one of the discussions should be is when you want them to memorialize items and when you don’t… These guys and gals will charge you a ton to write down the conversation the two of you had.

Your comments are uncalled for, and add nothing to the conversation, so why do you make them?

Conversely, if you are purchasing a property for 200,000.00 and the appraisal comes back at 180,000.00, the bank is still only going to lend you 144,000.00 (making for an LTV of 72%) and you will need to come-up with the balance.Of course, if the delta between the sales price and appraised value is too large, many lenders will elect not to fund at all or, at the very least, will have many more hoops through which you need jump to prove the deal is fair.

@Joe O Great conversation guys very insightful..