Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.Finally -be sure to setup some keyword alerts - especially for "San Mateo" so you can jump into local conversations.See you around the forums!

I don't think you have anything to be concerned about.

Have you read the Beginner's Guide to Investing yet?

Nonetheless I am always looking for a deal, but this seems the most logical and attractive at my beginner investing level.Thanks again!

I think the concern is equity skimming/equity strippinghttp://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/85-21ml.txthttp://en.wikipedia.org/wiki/Equity_skimming

While reading The Beginners Guide to Real Estate Investing, I came across a lot of references to this forum and thought I would check it out.

I suspect that Duncan is not too concerned as I believe he has the ability to take out what ever he gets into, that's not the case with most folks here.BTW, I collected a delinquent 2nd that was several years in arrears that had been kept alive with demands with a performing first mortgage at a sale closing last summer.

Grerat time and area to start.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

I look forward to future posts about it.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Could you get creative with the wholesaler and maybe bring him into the deal as a partner so that you're obtaining the financing through his LLC in order to alleviate the lender's concerns?