When billion dollar account managers can use computer programs to execute trades in micro seconds, (took some knowledge to put that together!)

While you may have only a couple of hours invested in one particular deal, you have thousands of hours invested in gaining the knowledge and experience to find and execute that one deal.

Summary, just my opinion and I'm sure the other Sub2 homeboys like Jonathan will say is: Short the 2nd but don't refinance the 1st and execute an exit strategy whether its sell as a wrap like Jonathan said, L/O or sell retail and collect a REALLY BIG CHECK :)

Once when I was an executive with a blue chip company I had an employee come and ask me for a raise.

I market for the ss seller, meet and if all goes well write up a p/a and list (myself being the buyer) with a realtor (that doesn’t want to tarnish his good name dealing with short sales.) once that is done the deal go’s in the pipe with the other investor that has a negotiation staff.

That the buyer and seller agree that real estate commissions are earned and due upon executing the installment contract, that no refund shall be due the seller in the event of default.

Get your note and deed of trust, you will execute those at closing.

But a good contract, tying up the property will accomplish much the same thing.Make sure to have any such contracts are gone over by your legal staff for validity in the states you will cover.There are a lot of sites that will tell you that they have a buyers list that you can use.

If it is not executed, the assignment can expire and the tenant no longer has the right to use it.

Defense Department civilian executives earning more than $150,000 went from 1868 to OVER 10,000, and the Department of Transportation, which had only ONE person earning over $170,000 in December 2007 now has 1690!