I would then immediately flip the property and pay off the note.PROS:- The note is an 80% loan-to-value- there is a 10% interest rate on the note- I have excellent credit- a sum of cash would be offered to the new owner of the note as an incentive- an early payoff penalty would be in place on the noteCONS:- there is no payment history since the note creation and trade will take place almost simultaneously- there was no down payment paid to the seller of the houseAre there any firms that would accept a note like this?

thanks all - now since its a numbers game I want to create an excel sheet I would like to knowhow to calculate mortgage monthly payments, what is the formula - I thin I have it, but when I do it on a webbase calculator - it is off by a couple numbers, I want to know the actual formula to determine my monthlyonce i have that I will input the expenses so I can know if this house is a great investment or notthanks

I've deliberated posting my opinion about a specific "service" and instead will generalize.An excellent marketing scheme, imbedding solicitors on websites frequented by distressed homeowners creating a wide-mouthed funnel to collect leads for a select few to 'cherry pick' who offer services (oftentimes offered without charge by non profits, or the mortgagee itself).

I also networked like a mad man and now it's paying off for me.Just be serious, do your homework, take your time and focus on the numbers and being able to identify flaws in the properties.And please don't forget to build relationships with people and be courteous.

Espcecially after you've built a relationship with them.Sent you a PM about the HML.

his views on asset protection have excellent points - but his overall message about using DBA's etc - are not good.

Excellent advice, All Cash.

I woukld say pay the title company just because of the future relationship you are trying to establish with them.

In these areas the 2% formula is an excellent rule of thumb (I use it myself).

Indeed, you could, over time, establish a relationship of confidence and trust with someone you have never met in person.