Junior Salters I would love to but I have not been able to completely get my head around the concept, how would I explain that to a seller and bring them current on their loan ?

Could you explain a bit more about preferred equity notes?

Find a local bank or credit union, not a big national one, go in, talk to an officer and explain what your trying to do.Secured credit cards or loans are a great start, just make sure you don't spend more than you normally would, and pay them off every month.Debt to income could be a problem, so your going to have to build up your income so that you can afford to buy a house, it doesn't have to be a mansion, just a small house that you can rent out, that will also start the clock on your having 2 years of rental income (which helps).Don't go crazy applying for everything, you will end up with too many inquiries.

Your questions can be better answered when you know and explain the route you want to take.

Thank you all, it seems this 1 town's tax collector is not as adept as I have spoken to another town's tax collectors which I just purchased and she was very nice to explain to me what you guys just mentioned.Are there examples of such Affidavits (1 Affidavit for recording with county, another for Subsequent Taxes) available online or must I usually retain a lawyer?

I explained my plans and convinced them to start a new company with me, investing 20-50k into the business to use as a down payment on an investment property.

Great story @Sam Erickson I've never seen a house built entirely out of block before, but having plumbed some commercial jobs built entirely out of block and concrete, you are spot on when explaining how the plumber and electrician were on hand during new construction.

Explain their choices to them: a, sell with an agent and pay the cost to sell, which averages 10 to 13% of value of the house, b, rent it out and wait for the market to recover, or c, look at the ways to sell on terms to perhaps avoid the costs to sell.

Can someone explain how llc's work along with the pro's and con's of using these.

In the book he explains about wholesaling and rehabbing but it seems his main focus is options, retailing, and lease options.