Thank you very much.Is it okay if I occasionally throw you guys some more questions in this thread?

Do you have a contract in place to secure 3%?

However if the seller cannot get his credit in check and align himself to buy back his property, I will simply throw it on the market.Keep in mind the original safety net is 75 percent of the value at the buy in price, this is Southern Californian RE, the price will almost never drop so drastically in that short amount of time.

1-1 bot. 2nd Beckett thinks he's tough, and is allowed to throw at guys when he wants.

Then you are a creditor secured by a lien on the property.The person owing the money could also try to work out a settlement where they make a partial payment in agreement to have the lien released from one property.

Can't honestly say that I've studied any of the material as of late.Anyway, I have about 110K in equity in my house, just secured a line of credit for 90K and I have a credit score between 710 and 800.I have a GREAT handyman/carpenter lined up and he has an outstanding work ethic.

This includes Security deposit handling and inventory/condition documentation.

okay, so this may be a stupid question (or not if it helps the original poster), what happens if you secure a contract and then, you can't find an investor who will want to buy it?

I am in Canada, so I would have to look up securities regulations here.

In addition, while you are waiting for that small percentage of people with bad credit but a big pile of cash to show up for the option premium and security deposit, you could be renting the property.