He really has carved out a niche allowing him to perform almost all functions in-house, creating leads off of every call.Anyhow the initial plan was to get me started as a Loan Originator, then once I was familiar with that end of things I could grab a property and he would walk me through the process.

My biggest question is regarding how I should go about making my initial offer to the bank.

I would make the deal contigent upon inspection of the actual documents to verify the claimed expenses vs. rent.And like I said before, your bottom line is yours.

I'm not sure what ARV stands for....He will pay us the cost of fixing up the property which was quoted to him by my Contractor at 35k, making a 15k profit for me and the other 20k will go to construction costs and subs. 44k to me as the Private Investor, roughly 15k Broker fees and the like.I believe, although I may have misconstrued my initial understanding, that he will buy back at 85 percent of Market Value when the year is up.The 89k is the money he is left after paying us our fees, where I believe I got confused, as my Mentor told me we would be "cutting" him a check for that amount.This leaves me wondering why with so much equity he could not access it and why he went into default.

We initially approached the sellers with carrying the note, but absolutely no interest there.

Some of them will actually whip out a tape measure and verify it.Include everything they would be renting that is heated and/or cooled.

But I'm sure if they could figure out a way to word the initiative in such a fashion that the general public would think it's a good thing, they would do it.I glad we have access to such a valueable source of information and exchange of ideas for FREE lolhttp://ezinearticles.com/?

I'm thinking phone is best, at least initially.

May well be, but verify for yourself.

Before I let someone do an option to purchase, they must go through a reputable lender and verify they can perform in the time frame.