Simply tell her you were looking for a property and her's poped up, so ask her!

I'm simply commenting that in the newbie forum, I would expect people to be more responsive and welcoming.

If he's whole saleing, I'm guessing he actually has no money and simply wants to lock the property up while looking for a real buyer.

Its a win/win.

I'm with Brian... given those cash flows simply go with a PM... maybe even pay them a premium.I understand your philosophy of amount of work per dollar earned... but instead of dropping the property completely to reduce the workload, why not outsource some of that work at the sacrifice of some of the money???

I am trying to figure out a way to have a mortgage on a property instead of having it free in clear with renters so that I can simply collect debt payments on some of my portfolio.

I find that it's much easier dealing with tenants if you act like you are simply a partner who owns the house.

I'm using a credit union for mine...Bought a place January 4th subject to the hard money loan he had in place... am in the process of refinancing it with a local credit union... it appears *fingers crossed* they are going to allow me to do a cash out refinance based on appraisal value (75%) at 5.5% for 10/30.Easiest recommendation is simply to wear out your phone dialing...

In the event there is massive deflation he would simply walk away from the loans and/or offer to deed the properties back to the owners.

He's responsible for paying it back and should be looked at as if he was pulling it out of his own checking account.Anthony - For the cash you need from him, I would simply borrow it from someone and pay a flat return (15-20% ?)